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pafoo
 3 years ago
A company has determined that when x items are sold daily, the profit P is given by
P(x)=0.002x^2+4.3x120
What is the profit if 700 items are made?
How many items should be made daily in order to maximize the companys profit?
I know the first one is 1,910, but how do I maximize the company's profit?
pafoo
 3 years ago
A company has determined that when x items are sold daily, the profit P is given by P(x)=0.002x^2+4.3x120 What is the profit if 700 items are made? How many items should be made daily in order to maximize the companys profit? I know the first one is 1,910, but how do I maximize the company's profit?

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RyanL.
 3 years ago
Best ResponseYou've already chosen the best response.1This basically asks you to find the vertex of the equation

RyanL.
 3 years ago
Best ResponseYou've already chosen the best response.1find the derivative and set it to zero

pafoo
 3 years ago
Best ResponseYou've already chosen the best response.0What formula would I use?

RyanL.
 3 years ago
Best ResponseYou've already chosen the best response.1I don't know any formulas but I do know how to find it using a derivative

pafoo
 3 years ago
Best ResponseYou've already chosen the best response.0Ok, any advice on how I should proceed?

pafoo
 3 years ago
Best ResponseYou've already chosen the best response.0So if I get a derivative of 4.30.004x, what should I do then?

RyanL.
 3 years ago
Best ResponseYou've already chosen the best response.1set it to zero and solve for x

RyanL.
 3 years ago
Best ResponseYou've already chosen the best response.14.30.004x=0 0.004x=4.3 x=4.3/0.004 x=1075

pafoo
 3 years ago
Best ResponseYou've already chosen the best response.0i see, so the derivative is the key, awesome, thanks!

RyanL.
 3 years ago
Best ResponseYou've already chosen the best response.1http://www.wolframalpha.com/input/?i=0.002x%5E2%2B4.3x120 if you graph it you can see the highest point right? That point is called the vertex and you can find it using the derivative
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