A Construction Company uses the function below to determine the cost “C” in dollars for risk management.
C(x)={(35 if 0<x<3 AND 35+10(x-2) if x≥3)
The function provided is C(x)={(35 if 0<x<3, and 35+10(x-2) if x≥3), where x represents a certain factor related to risk management. This function is used by a Construction Company to determine the cost "C" in dollars for risk management.
To find the cost for risk management using this function, you need to consider the value of x and apply the conditions defined in the function.
1. If 0 < x < 3: In this range, the cost is a constant $35. It means that regardless of the value of x (as long as it is between 0 and 3), the cost of risk management will always be $35.
2. If x ≥ 3: When x is greater than or equal to 3, the cost formula is 35 + 10(x-2). To find the cost, subtract 2 from the value of x and multiply the result by 10. Finally, add 35 to that result. This will give you the cost of risk management in dollars.
For example:
- If x = 1: Since 1 falls within the range of 0 to 3, the cost will be $35.
- If x = 5: As 5 is greater than 3, we use the formula 35 + 10(x-2). Substituting x = 5, we have 35 + 10(5-2) = 35 + 10(3) = 35 + 30 = $65. Therefore, the cost of risk management when x = 5 is $65.
By following these steps and considering the given function, you can determine the cost of risk management for different values of x.