SOLUTION: In most businesses, increasing prices of their product can have a negative effect on the number of customers of the business. A bus company in a small town has an average number of
Algebra ->
Graphs
-> SOLUTION: In most businesses, increasing prices of their product can have a negative effect on the number of customers of the business. A bus company in a small town has an average number of
Log On
Question 23336: In most businesses, increasing prices of their product can have a negative effect on the number of customers of the business. A bus company in a small town has an average number of riders od 1000 per day. The bus company charges 2.00 for a ride. They conducted a survey of their customers and found that they will lose appproximately 50 customers per day for each $.25 increase in fare. Give the description above, graph the function, explain your choice, and give the domain and range of the function.
You can put this solution on YOUR website! Let "x" be number of days that the increasing of prices has been in effect.
Then average number os passengers will be 1000-50x.
The price paid per passenger will be 200-25x cents.
The income to the company will be:
Income = (1000-50x)(200-25x)
Domain will be 0<=x<=8 for practical purposes.
Range of income will be 0<=income<=200000 cents
as the equation relates to the problem.
Just looking at the equation without reference to
the problem the Domain and the Range would be all
real numbers. Hope you understand the difference.
The equation is a model for the problem so has
restricted applicable domain and range.
Cheers
Stan H.
(