SOLUTION: Assume the profit earned by an artist in any given year is governed by the function
P(n) = -2n2 + 20n – 30
where n represents the number of paintings sold and P (in thousan
Algebra ->
Probability-and-statistics
-> SOLUTION: Assume the profit earned by an artist in any given year is governed by the function
P(n) = -2n2 + 20n – 30
where n represents the number of paintings sold and P (in thousan
Log On
Question 224713: Assume the profit earned by an artist in any given year is governed by the function
P(n) = -2n2 + 20n – 30
where n represents the number of paintings sold and P (in thousands of dollars) represents the profit. How many paintings should be sold to create a maximum profit? What is the maximum profit?
You can put this solution on YOUR website! Assume the profit earned by an artist in any given year is governed by the function:
P(n) = -2n^2 + 20n – 30
where n represents the number of paintings sold and P (in thousands of dollars) represents the profit.
How many paintings should be sold to create a maximum profit?
:
This is a quadratic equation; find the axis of symmetry:
This formula x = -b/(2a)
In this equation x=n; b=20; a=-2
n =
n =
n = +5 paintings for max profit
:
What is the maximum profit?
Substitute 5 for n in the original equaiton
p(n) = -2(5^2) + 20(5) - 30
p(n) = -2(25) + 100 - 30
p(n) = -50 + 100 - 30
p(n) = $20 thousand profit
