A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 3 years ago
Problem: Rosalie is organizing a circus performance to raise money for a charity. She is trying to decide how much to charge for tickets. From past experience, she knows that the number of people who will attend is a linear function of the price per ticket. If she charges $5, 1200 people will attend. If she charges $7, 970 people will attend. How much should she charge per ticket to make the most money?
anonymous
 3 years ago
Problem: Rosalie is organizing a circus performance to raise money for a charity. She is trying to decide how much to charge for tickets. From past experience, she knows that the number of people who will attend is a linear function of the price per ticket. If she charges $5, 1200 people will attend. If she charges $7, 970 people will attend. How much should she charge per ticket to make the most money?

This Question is Closed

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0If you consider these numbers as points, where x = ticket price and y = people then you have P1 = (4, 1200) and P2 = (7, 970) Determine the equation of a line that passes through these points. You will obtain a linear equation of the form y = mx + b. Notice, though, that Profit itself is a function of x and y. In fact Profit = x * y (it equals the number of people multiplied by the ticket price). So your profit equation would be P(x) = x * y = x * (mx + b) Determine the vertex of this profit equation. This will be the point, x (the ticket price) that results in the maximum profit P(x).

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0What is the exact equation?

anonymous
 3 years ago
Best ResponseYou've already chosen the best response.0I meant to say P1 = (5, 1200) ******** Well if the points are (5, 1200) and (7, 970), the slope is (1200  970) / (5  7) = 115 In point slope form we can write y  y1 = m(x  x1) y  970 = 115(x  7) y = 115x + 1775 Our profit is x * y or x * (115x + 1775) Profit = P(x) = 115x^2 + 1775x This is a parabola with a maximum value of P(x) where x is the xcoordinate of the vertex. Can you determine the vertex of this parabola?
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.