SOLUTION: Annual profit in thousands of dollars is given by the function, P(x) = 5000 - (1000/(x-1)), where x is the number of items sold in thousands, x > 1.
describe the meaning of
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Question 451795: Annual profit in thousands of dollars is given by the function, P(x) = 5000 - (1000/(x-1)), where x is the number of items sold in thousands, x > 1.
describe the meaning of the number 5000 in the formula
describe the meaning of the number 1 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 3 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 function have a maximum, if so, what is it?
what steps should the company take to prepare for your answer to part 5?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Annual profit in thousands of dollars is given by the function, P(x) = 5000 - (1000/(x-1)), where x is the number of items sold in thousands, x > 1.
describe the meaning of the number 5000 in the formula
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Ans: It's the maximum profit value.
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describe the meaning of the number 1 in the formula
Ans: It is not in the domain of the function.
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find the profit for 5 different values of x
Ans: P(x) = 5000 - (1000/(x-1)
P(2) = 5000-[1000/1] = 4000
P(3) = 5000-[1000/2] = 4500
etc.
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graph the profit function over its given domain; use the 5 values calculated in part 3 to construct the graph and connect these points with a smooth curve in Excel or another graphing utility.
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Cheers,
Stan H.
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Insert the graph in a Word file and attach the graph in a Word file to the class DB thread.
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