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L²Cc
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Hootenanny, I have uninstalled nexus skin...I guess it did contribute to the fact I couldn't use the site's template!
Note: This problem comprises many parts, but I will just skip to the last one, since it's the one I'm struggling to answer!
An economist producing x thousand items attempts to model a profit function as a quadratic model P(x) = ax²+bx+c thousand dollars.
Given info: a=t, b=3-5t, c=5+4t = possible solutions for the system
part c asks us to find the "actual profit function" when the profit for producing 2500 items is 19,750 dollars (Note: 19750 becomes 19.75 when we plug into the function)...
Then part d asks us what is the max profit to be made and what level of production is needed to achieve it?
After substitution, the function for part c is as follows:
p(x)= (-29/9)x²+(172/9)x-(71/9) thousand dollars
such that 19.75= (-29/9)x²+(172/9)x-(71/9) thousand dollars
I'm guessing we have to use this formula to answer part d...I have solved x, where, in this case, x=0.44 or 5.48
Yet, I don't think these x-values will help me solve part d?!
Homework Statement
Note: This problem comprises many parts, but I will just skip to the last one, since it's the one I'm struggling to answer!
An economist producing x thousand items attempts to model a profit function as a quadratic model P(x) = ax²+bx+c thousand dollars.
Given info: a=t, b=3-5t, c=5+4t = possible solutions for the system
part c asks us to find the "actual profit function" when the profit for producing 2500 items is 19,750 dollars (Note: 19750 becomes 19.75 when we plug into the function)...
Then part d asks us what is the max profit to be made and what level of production is needed to achieve it?
Homework Equations
The Attempt at a Solution
After substitution, the function for part c is as follows:
p(x)= (-29/9)x²+(172/9)x-(71/9) thousand dollars
such that 19.75= (-29/9)x²+(172/9)x-(71/9) thousand dollars
I'm guessing we have to use this formula to answer part d...I have solved x, where, in this case, x=0.44 or 5.48
Yet, I don't think these x-values will help me solve part d?!