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 0.0007 x cubed plus 0.39 x squared plus 67.4 xP′(x)=−0.0007x3+0.39x2+67.4x

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.

010020030040050009,20018,40027,60036,80046,000Number of membersMarginal profit (in cents)

Upper P prime left parenthesis x right parenthesis equals negative 0.0007 x cubed plus 0.39 x squared plus 67.4 xP′(x)=−0.0007x3+0.39x2+67.4x

Upper II

IIII

IIIIII

IVIV

Upper VV

VIVI

A coordinate system has a horizontal axis labeled Number of members with ticks from 0 to 500 in increments of 50 and a vertical axis labeled Marginal profit (in cents) from 0 to 46000 in increments of 4600. A smooth curve labeled Upper P prime left parenthesis x right parenthesis equals negative 0.0007 x cubed plus 0.39 x squared plus 67.4 x generally rises from left to right. Six shaded 50-unit wide rectangles of different heights are spaced evenly along the horizontal axis from x equals 0 to x equals 300 with no gaps such that the bottom side coincides with the x-axis and the left corner of the top side is on the graph of the curve. The rectangles are labeled as follows from left to right: I, II, III, IV, V, VI.

Question content area bottom

Part 1

The total profit when

300300

members are enrolled is approximately

​$enter your response here.

Solution

To approximate the total profit when 300 members are enrolled, we can compute the sum:

i=16P(xi)Δx\sum_{i=1}^{6} P'(x_i) \Delta x

where P(x)=0.0007x3+0.39x2+67.4xP'(x) = -0.0007x^3 + 0.39x^2 + 67.4x, Δx=50\Delta x = 50, and xx values are chosen at intervals of 50 from x=0x = 0 up to x=300x = 300.

Let's calculate P(x)P'(x) at each xix_i where xi=0,50,100,150,200,250x_i = 0, 50, 100, 150, 200, 250, and then multiply each by Δx=50\Delta x = 50 to find the total sum.

  1. Calculate P(xi)P'(x_i) at each xix_i:

    • P(0)=0.0007(0)3+0.39(0)2+67.4(0)=0P'(0) = -0.0007(0)^3 + 0.39(0)^2 + 67.4(0) = 0
    • P(50)=0.0007(50)3+0.39(50)2+67.4(50)P'(50) = -0.0007(50)^3 + 0.39(50)^2 + 67.4(50)
    • P(100)=0.0007(100)3+0.39(100)2+67.4(100)P'(100) = -0.0007(100)^3 + 0.39(100)^2 + 67.4(100)
    • P(150)=0.0007(150)3+0.39(150)2+67.4(150)P'(150) = -0.0007(150)^3 + 0.39(150)^2 + 67.4(150)
    • P(200)=0.0007(200)3+0.39(200)2+67.4(200)P'(200) = -0.0007(200)^3 + 0.39(200)^2 + 67.4(200)
    • P(250)=0.0007(250)3+0.39(250)2+67.4(250)P'(250) = -0.0007(250)^3 + 0.39(250)^2 + 67.4(250)
  2. Multiply each result by Δx=50\Delta x = 50 and sum them to approximate the total profit.

Let me compute these values.The approximate total profit when 300 members are enrolled is approximately $42,243.75 (in cents, this would be 4,224,375 cents).

Would you like a breakdown of these calculations, or do you have any other questions?

Here are some follow-up questions for a deeper understanding:

  1. How does increasing or decreasing Δx\Delta x affect the accuracy of this approximation?
  2. What is the significance of marginal profit in this context?
  3. Can we interpret the marginal profit function P(x)P'(x) for business insights?
  4. How would the total profit change if we computed it up to 500 members?
  5. How can integral calculus be used to get a more accurate result instead of using discrete sums?

Tip: When approximating a continuous function with discrete sums, smaller intervals (Δx\Delta x) generally yield more accurate results.

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Math Problem Analysis

Mathematical Concepts

Calculus
Marginal Analysis
Summation
Approximation of Integrals

Formulas

Marginal profit formula: P′(x) = −0.0007x³ + 0.39x² + 67.4x
Summation for total profit approximation: ∑i=1^6 P′(xi)Δx

Theorems

Fundamental Theorem of Calculus (for approximation)

Suitable Grade Level

Grades 11-12