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anonymous

  • 5 years ago

Annual profit in thousands of dollars is given by the function, P(x) = -.01x2 + 50x + 30,000, where x is the number of items sold, x ≥ 0. describe the meaning of the number -.01 in the formula describe the meaning of the number 30,000 in the formula find the profit for 5 different values of x graph the profit function over its given domain; use the 5 values calculated in part c to construct the graph and connect these points with a smooth curve in Excel or another graphing utility. Insert the graph in a Word file and attach the graph in a Word file to the class DB thread. will this profit fu

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  1. anonymous
    • 5 years ago
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    0.01x2 = (0.1x)2 right?

  2. anonymous
    • 5 years ago
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    lets try doing this together. what do you think the number -0.01 means?

  3. anonymous
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    is that the selling price per unit?

  4. anonymous
    • 5 years ago
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    is that the selling price per unit?

  5. anonymous
    • 5 years ago
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    lets try this again. suppose i sold you x items for 1000 dollars, how much is the cost of each item?

  6. anonymous
    • 5 years ago
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    1000

  7. anonymous
    • 5 years ago
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    1,000 dollars per x

  8. anonymous
    • 5 years ago
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    so, 1000/x is the cost of each item right? so, number of items times cost of each item is total selling price correct?

  9. anonymous
    • 5 years ago
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    yes

  10. anonymous
    • 5 years ago
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    if i sell you x items for 50 dollars each, what is the total price?

  11. anonymous
    • 5 years ago
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    50x

  12. anonymous
    • 5 years ago
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    okay. so what is the selling price in your equation, 0.01 or 50?

  13. anonymous
    • 5 years ago
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    x^2

  14. anonymous
    • 5 years ago
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    x?

  15. anonymous
    • 5 years ago
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    I gave you the two choices. is it 0.01 or 50?

  16. anonymous
    • 5 years ago
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    50

  17. anonymous
    • 5 years ago
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    okay good. So, x items are sold for 50 dollars each. now, your equation is for the profit. How do you make profit?

  18. anonymous
    • 5 years ago
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    p(x)= r(x)-c(x)

  19. anonymous
    • 5 years ago
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    what are p(x), r(x) and c(x)?

  20. anonymous
    • 5 years ago
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    p(x)= -.01x^2+ 50x+30000 x=-b/2a a=-.01 b=50 c= 30000

  21. anonymous
    • 5 years ago
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    so profit is revenue minus cost of production right?

  22. anonymous
    • 5 years ago
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    so 30000 is the cost of production. 50 is the selling price. so what could 0.01 be?

  23. anonymous
    • 5 years ago
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    revenue per unit?

  24. anonymous
    • 5 years ago
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    i don't know? i feel so dumb right now

  25. anonymous
    • 5 years ago
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    no. notice that 0.01 is negative. It means that it is a loss. so it means that approximately 1 percent of the units are defective.

  26. anonymous
    • 5 years ago
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    ok sorry, that makes sense now

  27. anonymous
    • 5 years ago
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    so, the company cannot make a profit from the defective items, so it has to subtract its losses from the profit.

  28. anonymous
    • 5 years ago
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    okay great!

  29. anonymous
    • 5 years ago
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    makes perfect sense now

  30. anonymous
    • 5 years ago
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    so do i just choose 5 random numbers to plug into the equation

  31. anonymous
    • 5 years ago
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    0,1,2,3,4,5 into x and solve for it?

  32. anonymous
    • 5 years ago
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    yeah, you can put in any 5 values of x.

  33. anonymous
    • 5 years ago
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    you shouldn't put x = 0, it means that no items were produced or sold.

  34. anonymous
    • 5 years ago
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    ok 1,2,3,4,5

  35. anonymous
    • 5 years ago
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    also, 0.01 is the cost of production per unit

  36. anonymous
    • 5 years ago
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    thanks

  37. anonymous
    • 5 years ago
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    to find the profit maximum do i use the formula, x=-b/2a

  38. anonymous
    • 5 years ago
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    can anyone help me?

  39. anonymous
    • 5 years ago
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    I don't know. why don't you post it again maybe someone can help

  40. anonymous
    • 5 years ago
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    ok thanks

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