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Unformatted text preview: ducers’ surpluses 1. Linear Algebra (1)
• Formulate and solve a system of linear equations:
The Fancy French Perfume Company recently had its secret formula divulged. It was using, as the three ingredients, rose oil, oil of fermented prunes, and alcohol. Moreover, each 22‐ounce econo‐size bottle contained 4 more ounces of alcohol than oil of fermented prunes, while the amount of alcohol was equal to the combined volume of the other two ingredients.
a. Set up a system of equations to find the amounts of the ingredients in an econo‐size bottle. Be sure to label all of your variables.
b. Use the augmented matrix method to solve this system. 1 05/12/2011 1. Linear Algebra (2)
• Analyze a small Input/Output Model 2. Probability
• Markov Systems: based on #43 p. 533 An economy depends on two basic products, wheat and oil. To produce 1 unit of wheat requires 0.5 units of wheat and 0.5 units of oil. Production of 1 unit of oil requires 0.1 units of wheat and 0.4 units of oil. a. Find the production that will satisfy a demand for 500 units of wheat and 1000 units of oil. (Note: show you work for matrix inversion, if any.)
b.Suppose the demand for wheat changes by W units and demand for oil changes by V units (increase in demand is represented by a positive quantity). Find by how much the total production of wheat and oil w...
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This test prep was uploaded on 04/03/2014 for the course COMM 161 taught by Professor Nediak during the Fall '08 term at Queens University.
- Fall '08