Part I

You have decided that you need additional income to balance your budget. In order to receive extra income, you plan to produce and sell a product to consumers for a profit.

Write a report on your business venture. Include the following information:

1. The name of your business

2. The product you wish to produce and sell

3. The fixed and variable costs associated with producing and selling your product
     (include a list of these costs)

4. A cost function

5. The selling price of your product

6. A revenue function

7. The number of items you must produce and sell to break even on your venture

8. The amount of extra income you need and how many items you need to produce to achieve
     at least that amount

Part II

In this chapter, you have encountered several applications that used real data. For example, one application involved blood pressures, another involved body mass index, and a third involved shipping rates for United Parcel Service deliveries. These data may change over time. To obtain more current data, you may need to research through the library ot through Internet sites.

Choose an application in this chapter and either verify that the data has not changed or obtain more current data. Reconstruct the application if more current data exists. Write a short report on your findings, listing the sources for your data, and the results of your update of the application, if the data did indeed change.