The table gives the price, in dollars, of a round-trip ticket from Denver to Chicago on...

 

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The table gives the price, in dollars, of a round-trip ticket from Denver to Chicago on a certain airline and the corresponding monthly profit, in millions of dollars, for that airline. Profit from the Sale of Round-Trip Tickets Profit Ticket Price (dollars) (million dollars) 200 250 P(x) = 300 350 400 450 2.73 3.12 3.33 3.38 3.25 2.96 (a) Explain why a quadratic model is more appropriate for the data than a log or exponential model. (b) Find a quadratic model for the data. (Round all numerical values to six decimal places.) = [ million dollars (c) Why doesn't the airline profit increase as the ticket price increases? ***-* (d) Report the ticket price (to the nearest dollar) at which the airline will begin to post a negative profit (that is, a net loss). dollars X = The table gives the price, in dollars, of a round-trip ticket from Denver to Chicago on a certain airline and the corresponding monthly profit, in millions of dollars, for that airline. Profit from the Sale of Round-Trip Tickets Profit Ticket Price (dollars) (million dollars) 200 250 P(x) = 300 350 400 450 2.73 3.12 3.33 3.38 3.25 2.96 (a) Explain why a quadratic model is more appropriate for the data than a log or exponential model. (b) Find a quadratic model for the data. (Round all numerical values to six decimal places.) = [ million dollars (c) Why doesn't the airline profit increase as the ticket price increases? ***-* (d) Report the ticket price (to the nearest dollar) at which the airline will begin to post a negative profit (that is, a net loss). dollars X =

Answer rating: 100% (QA)

SOLUTION a A quadratic model is more appropriate for the data because the profit values are not incr... View the full answer