A flood control project has construction costs during the first year of $15 million, during the second year of $6 million, and during the third year of $1 million. It is completed at the end of the third year and thereafter incurs an annual operating cost of $0.2 million per year (the operating cost starts at the end of year 4). Benefits from the project begin during year 5 and are valued at $1.5 million in that year, growing at a 0.02 compound rate of increase out to the planning horizon (analysis period) of 50 years. The interest rate is 0.06. What is the present worth of cost

Total marketing effort is a term used to describe the critical decision factors that affect demand: price, advertising, distribution, and product quality. define the variable x to represent total marketing effort. a typical model that is used to predict demand as a function of total marketing effort is based on the power function: d = axb suppose that a is a positive number. different model forms result from varying the constant b. sketch the graphs of this model for b = 0, b = 1, 0< b< 1, b< 0, and b> 1. (we encourage you to use excel to do this.) what does each model tell you about the relationship between demand and marketing effort? what assumptions are implied? are they reasonable? how would you go about selecting the appropriate model?