In this project, you will examine a scenario using linear functions to model revenue, cost, and profit functions as certain variables are changed. For your grade, you will turn in a written report (due in Moodle by Sunday, February 28) with the following: 1. Complete solutions to all problem parts. Your solutions are to be typed neatly and in complete sentences 2. Excel graphs of the relevant cost and revenue functions (as specified in the questions). Grades will be based on the following components: Writing: Solutions are written in complete sentences. Grammar is correct Mathematical Content: Solutions are correct. Reports contain complete solutions to all questions. Scale(s) chosen on Excel graphs make sense in context. Project Questions Southwest Hospital has an operating room used only for eye surgery. The annual cost of rent, heat, and electricity for the operating room and its equipment is $360,000, and the annual salaries of the staff for this room total to $540,000. Each surgery performed requires the use of $760 worth of medical supplies and drugs. To promote goodwill, every patient receives a pouquet of flowers the day after surgery. In addition, one quarter of patients require dark glasses, which the hospital provides free of charge. It costs the hospital $30 for each bouquet of flowers and $40 for each pair of glasses. The hospital receives a payment of $2000 for each eye operation performed. 1. Identify the revenue per case and the annual fixed and variable costs for running the operating room. Use these values to construct cost and revenue functions, with representing the number of operations performed per year. Use Excel to graph these functions over an appropriate range of r-values. 2. How many eye operations must the hospital perform each year in order to break even? 3. Southwest Hospital currently averages 70 eye operations per month. One of the nurses has just learned about a machine that would reduce by $100 per patient the amount of medical supplies needed. It can be leased for $100,000 annually. Keeping in mind the financial cost and benefits, advise the hospital on whether it should lease this machine, Use Excel to graph the cost and revenue functions in this adjusted scenario. 4. An advertising agency has proposed to the hospital's president that she spend $20,000 per month on television and radio advertising to persuade people that Southwest Hospi- tal is the best place to have any eye surgery performed. Advertising account executives estimate that such publicity would increase business by 40 operations per month. If they are correct and if this increase is not large enough to affect fixed costs, what impact would this advertising have on the hospital's profits? Use Excel to graph the cost and revenue functions in this scenario. 5. In case the advertising agency is being overly optimistic, how many extra operations per month are needed to cover the cost of the proposed ads? 6. If the ad campaign is approved and subsequently meets its projections, should the hospital review its decision about the machine discussed in Question 3? In this project, you will examine a scenario using linear functions to model revenue, cost, and profit functions as certain variables are changed. For your grade, you will turn in a written report (due in Moodle by Sunday, February 28) with the following: 1. Complete solutions to all problem parts. Your solutions are to be typed neatly and in complete sentences 2. Excel graphs of the relevant cost and revenue functions (as specified in the questions). Grades will be based on the following components: Writing: Solutions are written in complete sentences. Grammar is correct Mathematical Content: Solutions are correct. Reports contain complete solutions to all questions. Scale(s) chosen on Excel graphs make sense in context. Project Questions Southwest Hospital has an operating room used only for eye surgery. The annual cost of rent, heat, and electricity for the operating room and its equipment is $360,000, and the annual salaries of the staff for this room total to $540,000. Each surgery performed requires the use of $760 worth of medical supplies and drugs. To promote goodwill, every patient receives a pouquet of flowers the day after surgery. In addition, one quarter of patients require dark glasses, which the hospital provides free of charge. It costs the hospital $30 for each bouquet of flowers and $40 for each pair of glasses. The hospital receives a payment of $2000 for each eye operation performed. 1. Identify the revenue per case and the annual fixed and variable costs for running the operating room. Use these values to construct cost and revenue functions, with representing the number of operations performed per year. Use Excel to graph these functions over an appropriate range of r-values. 2. How many eye operations must the hospital perform each year in order to break even? 3. Southwest Hospital currently averages 70 eye operations per month. One of the nurses has just learned about a machine that would reduce by $100 per patient the amount of medical supplies needed. It can be leased for $100,000 annually. Keeping in mind the financial cost and benefits, advise the hospital on whether it should lease this machine, Use Excel to graph the cost and revenue functions in this adjusted scenario. 4. An advertising agency has proposed to the hospital's president that she spend $20,000 per month on television and radio advertising to persuade people that Southwest Hospi- tal is the best place to have any eye surgery performed. Advertising account executives estimate that such publicity would increase business by 40 operations per month. If they are correct and if this increase is not large enough to affect fixed costs, what impact would this advertising have on the hospital's profits? Use Excel to graph the cost and revenue functions in this scenario. 5. In case the advertising agency is being overly optimistic, how many extra operations per month are needed to cover the cost of the proposed ads? 6. If the ad campaign is approved and subsequently meets its projections, should the hospital review its decision about the machine discussed in Question 3