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pafoo
Group Title
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?
 one year ago
 one year ago
pafoo Group Title
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?
 one year ago
 one year ago

This Question is Closed

RyanL. Group TitleBest ResponseYou've already chosen the best response.1
This basically asks you to find the vertex of the equation
 one year ago

RyanL. Group TitleBest ResponseYou've already chosen the best response.1
find the derivative and set it to zero
 one year ago

RyanL. Group TitleBest ResponseYou've already chosen the best response.1
solve for x then
 one year ago

pafoo Group TitleBest ResponseYou've already chosen the best response.0
What formula would I use?
 one year ago

RyanL. Group TitleBest ResponseYou've already chosen the best response.1
I don't know any formulas but I do know how to find it using a derivative
 one year ago

pafoo Group TitleBest ResponseYou've already chosen the best response.0
Ok, any advice on how I should proceed?
 one year ago

RyanL. Group TitleBest ResponseYou've already chosen the best response.1
Find the derivative
 one year ago

pafoo Group TitleBest ResponseYou've already chosen the best response.0
So if I get a derivative of 4.30.004x, what should I do then?
 one year ago

RyanL. Group TitleBest ResponseYou've already chosen the best response.1
set it to zero and solve for x
 one year ago

RyanL. Group TitleBest ResponseYou've already chosen the best response.1
4.30.004x=0
 one year ago

RyanL. Group TitleBest ResponseYou've already chosen the best response.1
4.30.004x=0 0.004x=4.3 x=4.3/0.004 x=1075
 one year ago

pafoo Group TitleBest ResponseYou've already chosen the best response.0
i see, so the derivative is the key, awesome, thanks!
 one year ago

RyanL. Group TitleBest ResponseYou've already chosen the best response.1
http://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
 one year ago

pafoo Group TitleBest ResponseYou've already chosen the best response.0
Ah, ok I got you.
 one year ago
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