Math Problem Statement
A record club has found that the marginal profit, Upper P prime left parenthesis x right parenthesisP′(x), in cents, is given by Upper P prime left parenthesis x right parenthesis equals negative 0.0005 x cubed plus 0.22 x squared plus 53.9 xP′(x)=−0.0005x3+0.22x2+53.9x for x less than or equals 500x≤500, where x is the number of members currently enrolled in the club. Approximate the total profit when 300300 members are enrolled by computing the sum Summation from i equals 1 to 6 Upper P prime left parenthesis x Subscript i Baseline right parenthesis Upper Delta x∑i=16P′xiΔx with Upper Delta x equals 50Δx=50.
Solution
To approximate the total profit when 300 members are enrolled using the given marginal profit function, we can compute the summation as described:
We divide the interval into 6 subintervals, each of width . For , we take the endpoints of each subinterval:
The sum is given by:
Step-by-Step Computation:
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Compute for each :
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For :
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For :
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For :
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For :
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For :
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For :
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Multiply each by :
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Sum these values:
Convert to Dollars:
Final Answer:
The total profit when 300 members are enrolled is approximately $38,581.25.
Would you like further clarifications or detailed steps for any part of this calculation?
Relative Questions:
- How does the marginal profit function relate to total profit in this problem?
- Why is the interval divided into 6 subintervals?
- What would happen to the accuracy if smaller intervals were chosen?
- How can this summation method approximate an integral?
- Can we calculate the exact total profit by integrating ?
Tip:
When approximating sums, smaller intervals () improve accuracy because they better capture the curve of the function.
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Math Problem Analysis
Mathematical Concepts
Calculus
Marginal Analysis
Numerical Approximation
Definite Integral Approximation
Formulas
P′(x) = −0.0005x³ + 0.22x² + 53.9x
Sum approximation: ∑ P′(xi)Δx
Profit in dollars: Total profit in cents ÷ 100
Theorems
Fundamental Theorem of Calculus (Approximation)
Suitable Grade Level
Grades 11-12 and introductory college-level calculus
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