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:
where , , and values are chosen at intervals of 50 from up to .
Let's calculate at each where , and then multiply each by to find the total sum.
-
Calculate at each :
-
Multiply each result by 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:
- How does increasing or decreasing affect the accuracy of this approximation?
- What is the significance of marginal profit in this context?
- Can we interpret the marginal profit function for business insights?
- How would the total profit change if we computed it up to 500 members?
- 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 () 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
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