Use an Equation to Solve the Problem $x$ Inches Is Cut Out of Each Corner of an 8

question 41

Multiple Choice

Use an equation to solve the problem.
-A square of side $x$ inches is cut out of each corner of an 8 in. by 12 in. piece of cardboard, and the sides folded up to form an open-topped box. Use your graphing calculator to determine the dimensions of cut-out squares that will produce the box of maximum volume.
(Hint: you will first need to write the volume of the box $\mathrm { V }$ as a function of $x$ .)

• A) \(1.7\) inches by \(1.7\) inches
• B) \(1.8\) inches by \(1.8\) inches
• C) \(1.6\) inches by \(1.6\) inches
• D) \(1.4\) inches by \(1.4\) inches

Calculate errors in consumption function predictions.

Analyze best and worst fits for consumption functions based on provided data.

Understand the method of least squares estimation.

Learn how economic theories model the relationship between variables.

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Definitions:

Factory Overhead Rates

A measure used to allocate the costs of operating a factory, which cannot be directly tied to specific units produced, over the units produced.

Direct Labor Hours

The total hours worked by employees who are directly involved in producing goods or providing services.

Machine Hours

A measure of the amount of time a machine is operated, used in allocating manufacturing costs to units of product.

Finished Goods

Items that are finished being made but have not been purchased by consumers yet.