Implement the model you developed in Problem 1 on a spreadsheet and construct a one-way data table
Question:
Implement the model you developed in Problem 1 on a spreadsheet and construct a one-way data table to estimate the price for which profit is maximized.
Data from Problem 1
A manufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price and is represented by the model D = 2,500 - 3P The accounting department estimates that the total cost can be represented by C = 5,000 + 5D Develop a mathematical model for the total profit in terms of the price, P.
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