document.write( "Question 85209: In most businesses, increasing prices of products can negatively impact the number of customers. A bus company in a small town has an average number of riders of 800 per day. The bus company charges $2.25 for a ride. They conducted a survey of their customers and found that they will lose approximately 40 customers per day for each $.25 increase in fare.\r
\n" );
document.write( "\n" );
document.write( " Let the number of riders be a function of the fare charged. Graph the function, identify the graph of the function (line, parabola, hyperbola, or exponential), and find the slope of the graph. \n" );
document.write( "
Algebra.Com's Answer #61414 by josmiceli(19441)![]() ![]() You can put this solution on YOUR website! Let F = amount taken in per day in fares \n" ); document.write( "Let n = number of $.25 fare increases \n" ); document.write( " \n" ); document.write( "This equation just states \n" ); document.write( "Fares taken in = (number of riders)(fare far each rider) \n" ); document.write( "But the problem wants F as a function of the number of riders, so \n" ); document.write( "Let r = riders per day, then \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "By my calculations, when F is a maximum, n = 5.5, so the fare increase \n" ); document.write( "should be between $1.00 and $1.25. Then F = $2102.50 and r = 580 \n" ); document.write( " |