The Cost for a Guitar Maker to Handcraft X Guitars $C ( x )$

question 151

Short Answer

The cost for a guitar maker to handcraft x guitars is given by the function $C ( x )$ . The revenue taken in with the sales of x guitars is given by the function $R ( x )$ . Find the number of guitars that must be sold so that the cost equals the revenue. $C ( x ) = \frac { 1 } { 8 } x ^ { 2 } - x + 30$ $R ( x ) = \frac { 1 } { 4 } x ^ { 2 }$ __________ guitars

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Definitions:

α

Denotes the level of significance in hypothesis testing; a threshold below which the p-value must fall for results to be considered statistically significant.

Type I Error

Occurs when a true null hypothesis is incorrectly rejected, falsely indicating that there is a significant effect when there is none.

Lowering Alpha

The process of reducing the alpha level, or the significance level, to decrease the likelihood of committing a Type I error in statistical hypothesis testing.

Type II Error

The error that occurs when a false null hypothesis is not rejected, implying a miss in detecting an actual effect or difference.