-
+1 - 312-224-1615
Get in touch with us
-
support@helpwithassignment.com
Send us an e-mail
Solution Library
Calculate the Functional Form of Average Variable Cost
Question
Precision Engineering department has collected data on its average costs of production for the past 12 months. The monthly fixed cost is $4000 per month. The AVC and associated output data are presented below:
| Month | Q | AVC $ |
| Jan | 70 | 375 |
| Feb | 58 | 540 |
| Mar | 160 | 450 |
| Apr | 120 | 255 |
| May | 130 | 138 |
| Jun | 120 | 150 |
| Jul | 10 | 450 |
| Aug | 35 | 350 |
| Sep | 80 | 60 |
| Oct | 110 | 70 |
| Nov | 100 | 90 |
| Dec | 190 | 153 |
Precision Engineering is a perfectly competitive firm. Based on the information above, explain if AVC suggests the functional form: AVC = a + bQ + cQ2. (Draw a scatter diagram of AVC on Y axis and Q on X axis. Fit the scatter diagram with a 2nd degree polynomial trend line.)
Summary
The question belongs to Statistics and it is about calculating whether or not the AVC or the Average Variable Cost of the firm is in a functional form: AVC = a + bQ + cQ2 and plot the same on a graph.
WHAT OUR STUDENTS SAY
Religion as a subject is quite sensitive and I needed my world religion assignments to be worded and structured in such a manner so that the analysis was objective and did not appear to be biased or insensitive. The assignment writers at TheReliableTutor.com understood my requirement and with their expertise in writing managed to provide the assignments exactly the way I wanted
Ian Black Student
My My dream of becoming a corporate cost accountant was hindered when I stumbled into the maze of the statements of financial position. However, the accounting assignment help experts at TheReliableTutor.com helped me go through the rough patch and now while I am pursuing my Masters also, I rely on them and only them.
Alexandra Metaxas Student
The timely and professional manner in which my economics thesis writing expert interacted with me throughout the process really impressed me. The knowledge and research of the expert on the topic that I had selected was absolutely flawless and really in-depth. My professor was very happy with the proposal and the consequent thesis paper. Thank you HwA!
Graham Hailey Student
I was initially astonished to find out that this website has a specialized section for pediatric nurses. The experts here are wonderful and helped me out with various theoretical childcare nursing intervention strategies with logic, reason and strong scholarly references. Really did well in my course due to HwA.
Rebecca Ebbens Student
Always wanted to be in the lung and respiratory tract care unit of a hospital and these experts of HwA helped my dream come true. Through helping with respiratory system assignments and intervention advise the experts here in HwA, helped us a lot.
Stuart Williamson Student
Comments
this is a very good website
I have 50 questions for the same test your page is showing only 28
hi can you please help or guide me to answer my assignments. thanks
hi can anyone help or guide me to my assignments. thanks
This solution is perfect ...thanks
Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes
Perfect bank of solution.
great !
thanks for the quick response. the solution looks good. :)
thnx for the answer. it was perfect. just the way i wanted it.
works fine.