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: 55

Answer

Total Cost $= {{\$}} 32.5$ million

Work Step by Step

Total Cost $=$ 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). $\left[\begin{array}{lll} {1.15}&{0.80}&{0.50}\end{array}\right]\left[\begin{array}{c}{10}\\{20}\\{10}\end{array}\right]=[11.5+16+5]=[32.5]$ Total Cost $= {{\$}} 32.5$ million
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