Step 1 :The cost to produce $q$ units is modeled by the cost function $C(q)=0.115 q^{2}-46 q+4700$.
Step 2 :We want to find the quantity of units that minimizes the cost of production.
Step 3 :To find the minimum of a function, we can use the formula for the vertex of a parabola, which is $q = -b/(2a)$, where $a$ and $b$ are the coefficients of the quadratic and linear terms, respectively.
Step 4 :Substituting the given values, we have $a = 0.115$ and $b = -46$.
Step 5 :Calculating $q = -b/(2a)$, we get $q = 200$.
Step 6 :Final Answer: The quantity of units that minimizes the cost of production is \(\boxed{200}\).