Finite Math and Applied Calculus (6th Edition)

Published by Brooks Cole
ISBN 10: 1133607705
ISBN 13: 978-1-13360-770-0

Chapter 4 - Section 4.2 - Matrix Multiplication - Exercises - Page 253: 54

Answer

Revenue$=\left[\begin{array}{ccc}{10}&{5}&{8}\end{array}\right]\left[\begin{array}{c}{100}\\{50}\\{70}\end{array}\right]=[1,810]$ (Total revenue = ${{\$}} 1810$ )

Work Step by Step

Revenue= Price $\times$ Quantity Arrange the three prices as a 1$\times$3 row matrix and the three quantities as a 3$\times$1 column matrix. These matrices can be multiplied (the resulting matrix is a 1$\times$1 matrix). Revenue$=\left[\begin{array}{ccc}{10}&{5}&{8}\end{array}\right]\left[\begin{array}{c}{100}\\{50}\\{70}\end{array}\right]$ $=[1000+250+560]=[1,810]$ (Total revenue = ${{\$}} 1810$ )
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