document.write( "Question 1203126: At a price of $70 for a blender, Home Outfitters will sell 12 in one month. Market research has shown that for every $5 decrease in the price of a blender, they will be able to sell 3 more each month.\r
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document.write( "a) Determine the price of a blender that will maximize revenue for the month.\r
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document.write( "b) Approximately how many blenders will be sold to reach revenue of $1100?
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Algebra.Com's Answer #838438 by ikleyn(52780)![]() ![]() You can put this solution on YOUR website! . \n" ); document.write( "At a price of $70 for a blender, Home Outfitters will sell 12 in one month. \n" ); document.write( "Market research has shown that for every $5 decrease in the price of a blender, \n" ); document.write( "they will be able to sell 3 more each month. \n" ); document.write( "(a) Determine the price of a blender that will maximize revenue for the month. \n" ); document.write( "(b) Approximately how many blenders will be sold to reach revenue of $1100? \n" ); document.write( "~~~~~~~~~~~~~~~~~~~~\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " Solution for (a)\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \r\n" ); document.write( "From the given information, we easily derive that 12+3n blenders\r\n" ); document.write( "can be sold at market at the price 70-5n dollars, where n is \"any\" integer number,\r\n" ); document.write( "meaning n steps of $5 decrease the initial price of $70.\r\n" ); document.write( "\r\n" ); document.write( "\r\n" ); document.write( "Hence, the formula for revenue selling blenders at the price 70-5n dollars is\r\n" ); document.write( "\r\n" ); document.write( " R(70-5n) = (70-5n)*(12+3n) dollars.\r\n" ); document.write( "\r\n" ); document.write( "\r\n" ); document.write( "We want to find the value of the argument 70-5n, which provides the maximum \r\n" ); document.write( "to the quadratic function (70-5n)*(12+3n).\r\n" ); document.write( "\r\n" ); document.write( "\r\n" ); document.write( "For it, notice that the quadratic function (70-5n)*(12+3n), just being decomposed into\r\n" ); document.write( "the product of linear terms, has the zeroes (= x-intecepts) at\r\n" ); document.write( "\r\n" ); document.write( "\r \n" ); document.write( "\n" ); document.write( "Part (a) is solved.\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " Solution for (b)\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \r\n" ); document.write( "To answer (b), we should find integer values n that provide the closest values of (70-5n)*(12+3n) to 1100.\r\n" ); document.write( "\r\n" ); document.write( "To get it, I used MS Excel and prepared this Table below\r\n" ); document.write( "\r\n" ); document.write( "\r\n" ); document.write( " n 70-5n 12+3n product\r\n" ); document.write( " (70-5n)*(12+3n)\r\n" ); document.write( "---------------------------------\r\n" ); document.write( " 1 65 15 975\r\n" ); document.write( " 2 60 18 1080 <<<---===\r\n" ); document.write( " 3 55 21 1155\r\n" ); document.write( " 4 50 24 1200\r\n" ); document.write( " 5 45 27 1215\r\n" ); document.write( " 6 40 30 1200\r\n" ); document.write( " 7 35 33 1155\r\n" ); document.write( " 8 30 36 1080 <<<---===\r\n" ); document.write( " 9 25 39 975\r\n" ); document.write( "10 20 42 840\r\n" ); document.write( "\r\n" ); document.write( "\r\n" ); document.write( "The desired values of n are n= 2 and n= 8.\r\n" ); document.write( "\r\n" ); document.write( "\r\n" ); document.write( "The corresponding prices per blender are 70-5*2 = 60 dollars or 70-5*8 = 30 dollars (two possible values).\r\n" ); document.write( "\r\n" ); document.write( "The corresponding amounts of blenders sold are 12+3*2 = 18 or 12+3*8 = 36 (two possible values).\r\n" ); document.write( "\r \n" ); document.write( "\n" ); document.write( "Solved in full.\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |