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Question 450554: I think I have my problem solved but would really like to verify my answers before submitting it.
Annual profit in thousands of dollars is given by the function, P(x)=12x-100
where x is the number of items sold in thousands, x greater than or equal to 10.
1 Describe the meaning of the number 12 in the formula. (my answer is 12 is slope?)
2. describe the meaning of the number -100 in the formula. (my answer is y-intercept?)
3. Find the profit for 5 different values of x (my answer 10, 25,30,40,50)
4. (this is where I struggle) graph the prfit function over its given domain (the 10 right?) ue the 5 values calculated in part 3 to construct the graph. (Do I have x and y coordinates? It seems like only x coordinates which are the 5 values calculated?) Am I missing something?
5. Will this pofit function have a maximimum? (my answer no because it is a straight line not a parabola)
Please help me verify my answers and correct me if needed, I don't have anyone to run my answers by so I'm a little worried about turning them in without having them double checked. I really appreciate it! I don't want you to just give me the answer since this is my school but any help would be appreciated! Thanks
Colleen
Answer by ewatrrr(24785)   (Show Source):
You can put this solution on YOUR website!
Hi,
Annual profit in 'thousands of dollars' is given by the function, P(x)=12x-100
where 'x is the number of items sold in thousands', x greater than or equal to 10.
As it pertains to business:
the $12 is the profit for each x-thousands of items sold)
the 100(or $100,000 would be the cost of doing business)
Note P(8) = 12*8-100 = -4 (or a loss of $4000)
3. Find the profit for 5 different values of x
P(10) = 12*10-100 = 20 Pt(10,20)
P(12) = 12*12-100 = 44 Pt(12,44)
P(16) = 12*16 - 100 = 92 etc
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