Can you help with the following verbal math exercises based on application of matrices? Provide a step by step solution with a clean and understandable format. Please see instructions in the following image. (Part 1). Thank you in advance.

Application of Matrices For each of the following problems, correctly apply the concepts of matrix algebra to solve each situation. Use the mathematical notation correctly and remember to justify each of the required mathematical processes. Express the solution in the context of the situation. In the case that the result is decimal, you will round it to two decimal places. 1. Department A and Department B of a firm require different amounts of aluminum, wood, and plastic. Table A presents the quantities required by each department. Table A: quantities required by department Aluminum Wood Plastic Department A 60 40 20 Department B 40 20 10 The three products are provided by two suppliers, supplier I, and supplier II, with the unit prices according to table B Table B Provider I Provider II Aluminum 560 Wood 300 200 Plastic 300 400 Apply the concepts of matrix algebra to determine how much these orders will cost each department for each of the two suppliers. . The table below presents the mean annual income for 2005 for different genders and ethnic groups in a developing region. Create a matrix with the data and apply the matrix operations to create a matrix that represents a 12% increase in average annual income compared to 2005. Average annual income for 2005 Men's Women Whites 32,179 18,669 Blacks 22.653 17,631 Hispanics 22.089 15.035 . Phillips and John attend ABC Postsecondary College and XYC College, respectively. The number of credit hours taken and the cost per credit for this year are presented in the following table. ABC XYZ Cost per credit hour Phillips 6 3 ABC 50.00 John 3 12 XYZ 250.00 Using matrix algebra: a) Please determine matrix A, which represents the number of credit hours taken by each student; b) Please determine matrix B, cost per student per credit-hour; c) Please determine the product AB, d) Please interpret the result