Interpretation of the Cost Function

Oct 13, 2025 by thesweetdesigns.com 70 views

Introduction

In the world of mathematics, functions are used to represent relationships between variables. In the context of a taxi company, the cost function is a mathematical representation of the total cost incurred by a customer for a ride. In this article, we will delve into the cost function of a taxi company and explore what the number 10 represents in this function.

The Cost Function

The cost function of the taxi company is given by the equation:

C(m) = 3m + 10

where $C(m)$ represents the total cost incurred by a customer for a ride of $m$ miles. The function consists of two parts: a linear term $3m$ and a constant term $10$ . The linear term represents the cost per mile driven, which is $3$ dollars per mile. The constant term represents the base fee, which is $10$ dollars.

What Does the Number 10 Represent?

So, what does the number 10 represent in this cost function? In the context of the taxi company, the number 10 represents the base fee that is charged to the customer regardless of the distance traveled. This means that even if the customer only travels a short distance, such as 1 mile, they will still be charged the base fee of $10.

To understand this better, let's consider an example. Suppose a customer travels 5 miles in a taxi. The total cost incurred by the customer can be calculated using the cost function:

C(5) = 3(5) + 10 = 15 + 10 = 25

In this example, the customer is charged $25 for a 5-mile ride. The base fee of $10 is added to the cost per mile, which is $3 per mile. This means that the customer is charged $3 for each of the 5 miles traveled, plus the base fee of $10.

Interpretation of the Cost Function

The cost function can be interpreted in several ways. One way to interpret it is to see it as a linear function that represents the total cost incurred by a customer for a ride. The slope of the function represents the cost per mile, which is $3. The y-intercept represents the base fee, which is $10.

Another way to interpret the cost function is to see it as a piecewise function. The function can be broken down into two parts: the cost per mile and the base fee. The cost per mile is represented by the linear term $3m$ , while the base fee is represented by the constant term $10$ .

Conclusion

In conclusion, the number 10 in the cost function of a taxi company represents the base fee that is charged to the customer regardless of the distance traveled. This means that even if the customer only travels a short distance, they will still be charged the base fee of $10. The cost function can be interpreted in several ways, including as a linear function and as a piecewise function.

References

[1] Khan Academy. (n.d.). Linear Functions. Retrieved from https://www.khanacademy.org/math/algebra/x2f-linear-functions/x2f-linear-functions/x2f-linear-functions
[2] Math Open Reference. (n.d.). Linear Equations. Retrieved from https://www.mathopenref.com/linearequations.html

Mathematical Notations

$C(m)$ : Total cost incurred by a customer for a ride of $m$ miles
$m$ : Distance traveled in miles
$3$ : Cost per mile
$10$ : Base fee
$C(5)$ : Total cost incurred by a customer for a 5-mile ride
A Taxi Company Charges $$3 per mile driven plus a $$10 base fee. The function representing the total cost ${$ C(m)$}$ for driving ${$ m$}$ miles is ${$ C(m) = 3m + 10$}$. Q&A =====================================================================================================

Q: What is the cost function of a taxi company?

A: The cost function of a taxi company is a mathematical representation of the total cost incurred by a customer for a ride. It is given by the equation:

C(m) = 3m + 10

where $C(m)$ represents the total cost incurred by a customer for a ride of $m$ miles.

Q: What does the number 3 represent in the cost function?

A: The number 3 represents the cost per mile driven. This means that for every mile driven, the customer is charged $3.

Q: What does the number 10 represent in the cost function?

A: The number 10 represents the base fee that is charged to the customer regardless of the distance traveled. This means that even if the customer only travels a short distance, they will still be charged the base fee of $10.

Q: How do I calculate the total cost incurred by a customer for a ride?

A: To calculate the total cost incurred by a customer for a ride, you can use the cost function:

C(m) = 3m + 10

where $m$ is the distance traveled in miles.

Q: What is the total cost incurred by a customer for a 5-mile ride?

A: To calculate the total cost incurred by a customer for a 5-mile ride, you can plug in $m = 5$ into the cost function:

C(5) = 3(5) + 10 = 15 + 10 = 25

This means that the customer is charged $25 for a 5-mile ride.

Q: Can I use the cost function to calculate the cost of a ride for any distance?

A: Yes, you can use the cost function to calculate the cost of a ride for any distance. Simply plug in the distance traveled into the cost function:

C(m) = 3m + 10

Q: What is the slope of the cost function?

A: The slope of the cost function is 3, which represents the cost per mile driven.

Q: What is the y-intercept of the cost function?

A: The y-intercept of the cost function is 10, which represents the base fee that is charged to the customer regardless of the distance traveled.

Q: Can I interpret the cost function as a piecewise function?

A: Yes, you can interpret the cost function as a piecewise function. The function can be broken down into two parts: the cost per mile and the base fee.

Q: What are some real-world applications of the cost function?

A: The cost function has many real-world applications, such as calculating the cost of a taxi ride, the cost of a bus ticket, or the cost of a hotel room.

Q: Can I use the cost function to make predictions about the cost of a ride?

A: Yes, you can use the cost function to make predictions about the cost of a ride. Simply plug in the distance traveled into the cost function:

C(m) = 3m + 10

This will give you an estimate of the total cost incurred by a customer for a ride of $m$ miles.

Q: What are some limitations of the cost function?

A: Some limitations of the cost function include:

The cost function assumes that the cost per mile is constant, which may not be the case in reality.
The cost function does not take into account other factors that may affect the cost of a ride, such as traffic, road conditions, or weather.

Q: Can I modify the cost function to make it more accurate?

A: Yes, you can modify the cost function to make it more accurate. For example, you can add additional terms to the function to account for other factors that may affect the cost of a ride.

References

[1] Khan Academy. (n.d.). Linear Functions. Retrieved from https://www.khanacademy.org/math/algebra/x2f-linear-functions/x2f-linear-functions/x2f-linear-functions
[2] Math Open Reference. (n.d.). Linear Equations. Retrieved from https://www.mathopenref.com/linearequations.html

Mathematical Notations

$C(m)$ : Total cost incurred by a customer for a ride of $m$ miles
$m$ : Distance traveled in miles
$3$ : Cost per mile
$10$ : Base fee
$C(5)$ : Total cost incurred by a customer for a 5-mile ride