document.write( "Question 123462: The profit function for a business is given by the equation P(x)=-4x^2+16x-7, where x is the number sold, in thousands, and P(x) is dollars in thousands. Find the maximum profit and how many items must be sold to achieve it. \n" ); document.write( "
Algebra.Com's Answer #90976 by solver91311(24713)![]() ![]() You can put this solution on YOUR website! Maximize \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Two ways to solve this.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Without calculus:\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "This function describes a convex down parabola, so the maximum point is at the vertex. The x-coordinate of the vertex of parabola \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "The value of the function at \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "So the profit is a maximum $9,000 when 2 units are sold.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Calculus: \n" ); document.write( "A local minimum or maximum of a function is at the point where the first derivitive is equal to zero\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "If the second derivitive evaluated at this value is < 0, the point is a maximum.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Therefore the point is a maximum.\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Find the function value at the maximum point just like before.\r \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " |