speakeasy company offers customers a choice between 3 schemes:1st,a monthly charge of $15 + 5cents/ min.2nd,a monthly charge of $5 for the line rental +20 cents/min,3rd a(pay as you go) charge of 35cents/min with no monthly line rental charge. a)investigate the 3 schemes to find out which is the best one to choose. another company have simliar schemes,they charge a fixed monthly fee,plus a cost per minute for each call made.b) investigate the effect of using different schemes of this type of various amounts of minutes spent using the mobile phone per month
To determine which scheme is the best to choose, we will compare the costs for different amounts of minutes spent using the mobile phone per month.
a) Investigation into the three schemes offered by Speakeasy Company:
1) Scheme 1:
Monthly charge: $15
Cost per minute: $0.05
2) Scheme 2:
Monthly charge: $5
Line rental: $0.20 per minute
3) Scheme 3:
Pay as you go
Cost per minute: $0.35
To compare these schemes, we will calculate the total cost for different amounts of minutes used per month.
Let's consider the following scenarios:
1) 100 minutes
2) 500 minutes
3) 1000 minutes
Scheme 1:
1) 100 minutes: $15 (monthly charge) + $0.05 (per minute charge) * 100 = $20
2) 500 minutes: $15 (monthly charge) + $0.05 (per minute charge) * 500 = $40
3) 1000 minutes: $15 (monthly charge) + $0.05 (per minute charge) * 1000 = $65
Scheme 2:
1) 100 minutes: $5 (monthly charge) + $0.20 (per minute charge) * 100 = $25
2) 500 minutes: $5 (monthly charge) + $0.20 (per minute charge) * 500 = $105
3) 1000 minutes: $5 (monthly charge) + $0.20 (per minute charge) * 1000 = $205
Scheme 3:
1) 100 minutes: $0.35 (per minute charge) * 100 = $35
2) 500 minutes: $0.35 (per minute charge) * 500 = $175
3) 1000 minutes: $0.35 (per minute charge) * 1000 = $350
Based on these calculations, we can see that:
- For 100 minutes, Scheme 1 is the cheapest option.
- For 500 minutes, Scheme 1 is still the cheapest option.
- For 1000 minutes, Scheme 2 becomes the cheapest option.
Therefore, the best scheme to choose depends on the expected amount of minutes you will use per month.
b) Investigation into the effect of using different schemes for various amounts of minutes spent using the mobile phone per month, assuming similar schemes with fixed monthly fees and costs per minute:
Let's consider the following scenarios for different monthly minutes:
1) 100 minutes
2) 500 minutes
3) 1000 minutes
Scheme X:
Fixed monthly fee: $20
Cost per minute: $0.10
Scheme Y:
Fixed monthly fee: $10
Cost per minute: $0.25
Scheme Z:
Fixed monthly fee: $5
Cost per minute: $0.50
Now, we will calculate the total cost for each scenario:
Scheme X:
1) 100 minutes: $20 (fixed monthly fee) + $0.10 (per minute charge) * 100 = $30
2) 500 minutes: $20 (fixed monthly fee) + $0.10 (per minute charge) * 500 = $70
3) 1000 minutes: $20 (fixed monthly fee) + $0.10 (per minute charge) * 1000 = $120
Scheme Y:
1) 100 minutes: $10 (fixed monthly fee) + $0.25 (per minute charge) * 100 = $35
2) 500 minutes: $10 (fixed monthly fee) + $0.25 (per minute charge) * 500 = $135
3) 1000 minutes: $10 (fixed monthly fee) + $0.25 (per minute charge) * 1000 = $260
Scheme Z:
1) 100 minutes: $5 (fixed monthly fee) + $0.50 (per minute charge) * 100 = $55
2) 500 minutes: $5 (fixed monthly fee) + $0.50 (per minute charge) * 500 = $255
3) 1000 minutes: $5 (fixed monthly fee) + $0.50 (per minute charge) * 1000 = $505
By comparing the total costs, we can determine which scheme is the best option depending on the expected amount of minutes used per month.
To find out which scheme is the best to choose from the options provided by Speakeasy company, we need to compare the costs for different usage scenarios. Let's analyze each scheme step by step:
1. Scheme 1: Monthly charge of $15 + 5 cents per minute
- The fixed monthly charge is $15.
- For each call made, an additional 5 cents per minute is charged.
- This scheme is suitable for individuals who make longer calls frequently.
2. Scheme 2: Monthly charge of $5 for line rental + 20 cents per minute
- The fixed monthly charge is $5 for line rental.
- For each call made, an additional 20 cents per minute is charged.
- This scheme is suitable for individuals who have a moderate usage pattern and make shorter calls.
3. Scheme 3: Pay as you go with a charge of 35 cents per minute and no monthly line rental charge
- There is no fixed monthly charge for this scheme.
- Each call made has a charge of 35 cents per minute.
- This scheme is suitable for individuals who make occasional or infrequent calls.
To determine the best scheme, we need to consider your average monthly usage. Let's assume you make X minutes of calls in a month. Now we can calculate the costs for each scheme based on this assumption:
1. Scheme 1: Monthly charge ($15) + (5 cents/minute × X minutes)
Total cost = $15 + 0.05X dollars
2. Scheme 2: Monthly charge ($5) + (20 cents/minute × X minutes)
Total cost = $5 + 0.20X dollars
3. Scheme 3: (35 cents/minute × X minutes)
Total cost = 0.35X dollars
To find out which scheme is the most cost-effective, you can compare the total costs of each scheme based on the assumed monthly usage. Choose the scheme with the lowest total cost.
Now, let's move on to the second part of your question. If another company offers similar schemes with a fixed monthly fee plus a cost per minute, the process remains the same. We need to investigate the effect of using different schemes for various amounts of minutes spent using the mobile phone per month.
1. Identify the schemes and their associated costs.
2. Determine your average monthly usage in minutes.
3. Use the formula for each scheme to calculate the total cost based on your monthly usage.
4. Compare the total costs of each scheme to find the most cost-effective one.
Keep in mind that different usage patterns may have different cost implications. It is important to estimate your expected monthly usage accurately to make an informed decision about which scheme would be most beneficial for you.