Use Mathematical Induction to Prove the Following Inequality for All $n \geq 1$

question 82

Essay

Use mathematical induction to prove the following inequality for all $n \geq 1$ .
$15 ^ { n } \geq 14 n$

Calculate units to be purchased based on sales forecasts and inventory policies.

Calculate budgeted materials purchases cost.

Understand cash budget preparation and managing minimum cash balances.

Understand the preparation and components of a budgeted balance sheet.

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Definitions:

Average Total Costs

The total cost of production divided by the total quantity produced, representing the average cost per unit.

Total Fixed Costs

The sum of all costs associated with the production of goods or services that do not change with the level of output, such as rent, salaries, and equipment maintenance.

Fixed Costs

Fixed costs are business expenses that remain constant irrespective of the level of goods or services produced, such as rent, salaries, or loan payments.

Output

The total amount of goods and services produced by a firm or country.