SOLUTION: A ferry service transporting passengers to an island charges a fare of $10 and carries 300 persons. The manager estimates that the company will lose 15 passengers for each increase
Algebra ->
Customizable Word Problem Solvers
-> Evaluation
-> SOLUTION: A ferry service transporting passengers to an island charges a fare of $10 and carries 300 persons. The manager estimates that the company will lose 15 passengers for each increase
Log On
Question 203307: A ferry service transporting passengers to an island charges a fare of $10 and carries 300 persons. The manager estimates that the company will lose 15 passengers for each increase in fare of $1. Find the fare that yields the greatest income. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! A ferry service transporting passengers to an island charges a fare of $10 and carries 300 persons. The manager estimates that the company will lose 15 passengers for each increase in fare of $1. Find the fare that yields the greatest income.
-----------------------------------
Income = (fare)(# of passengers)
-------------------------------
I(x) = (10 +1x)(300-15x)
I(x) = 3000 - 150x + 300x - 15x^2
I(x) = -15x^2 + 150x + 3000
---------------------
Maximum "I" occurs when x = -b/2a = -150/(2*-15) = $5
----------------------
Fare = (10-x) = $5.00 will give maximum Income.
===================================================
Cheers,
Stan H.
(