A company is trying to determine how much they should see their products for. They found...
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A company is trying to determine how much they should see their products for. They found out that if they sell them for $12 each they will break even (make $0). If they sell them for $60, they will also break even (because not enough people will purchase them). If they sell then for $50 the company will have a $380,000 profit. a. To create a quadratic model generally you are given either the zeros or the vertex and one additional point. You can write the equation in zeros form or vertex form based on what is given. Are you given the zeros or the vertex here? How do you know? b. Create a model that will give the profit that the company makes as a function of the price that they sell their products for. You may assume that this is a quadratic relationship. Show your steps here. c. Based on the model you created in part b, will the $380,000 that they make when they sell the product for $50 be their maximum profit or can they make more by selling it for a different price? A company is trying to determine how much they should see their products for. They found out that if they sell them for $12 each they will break even (make $0). If they sell them for $60, they will also break even (because not enough people will purchase them). If they sell then for $50 the company will have a $380,000 profit. a. To create a quadratic model generally you are given either the zeros or the vertex and one additional point. You can write the equation in zeros form or vertex form based on what is given. Are you given the zeros or the vertex here? How do you know? b. Create a model that will give the profit that the company makes as a function of the price that they sell their products for. You may assume that this is a quadratic relationship. Show your steps here. c. Based on the model you created in part b, will the $380,000 that they make when they sell the product for $50 be their maximum profit or can they make more by selling it for a different price?
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a The vertex is given here since the company will break even at both 12 ... View the full answer
Related Book For
An introduction to management science quantitative approaches to decision making
ISBN: 978-1111532222
13th edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam
Posted Date:
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