SOLUTION: I have tried to do this problem several times now and not really sure about what I am doing Your drama club wants to sell tickets to your upcoming play. Based on previous expe

Question 982884: I have tried to do this problem several times now and not really sure about what I am doing

Your drama club wants to sell tickets to your upcoming play. Based on previous experience,you have determined that the profit you can make on selling t tickets is given by this function. P(t)=14t-0.1t^2
a. How many tickets do you need to sell to get the maximum profit?
My answer: 280
b. What is the maximum profit?
My answer:Im not sure am not sure.
c. What price per ticket should you charge to make this profit? Explain how you figured this out.
My answer: I am not sure
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Your drama club wants to sell tickets to your upcoming play.
Based on previous experience,you have determined that the profit you can make on selling t tickets is given by this function. P(t)=14t-0.1t^2
:
a. How many tickets do you need to sell to get the maximum profit?
We can write this as quadratic equation: y = -.1t^2 + 14t; a=.-1; b=14
Maximum will occur on at the axis of symmetry t = -b/(2a)
t =
t =
t = 70 tickets for maximum profit
:
b. What is the maximum profit?
Replace t with 70 in the original equation
P(t) = 14(70) - .1(70^2)
P(t) = 980 - 490
P(t) = $490 is the max profit
:
c. What price per ticket should you charge to make this profit? Explain how you figured this out.
Divide the total amt by the number of tickets
490/70 = $7 per ticket
:
;
Did all this make sense to you now? ankor@att.net
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