Math Problem Statement
A company sells widgets. The amount of profit, y, made by the company, is related to the selling price of each widget, x, by the given equation. Using this equation, find out the maximum amount of profit the company can make, to the nearest dollar. y, equals, minus, x, squared, plus, 84, x, minus, 630 y=−x 2 +84x−630
Solution
To find the maximum profit, we need to determine the vertex of the quadratic equation . The vertex of a parabola described by occurs at .
Here:
Step 1: Find at the vertex
Step 2: Substitute into the equation to find
Calculate each term:
Final Answer:
The maximum profit is $1,134.
Would you like a detailed breakdown of any step or have additional questions?
5 Related Questions:
- What is the significance of the vertex in real-world applications like profit maximization?
- How does the coefficient of affect the shape of the graph of this profit function?
- What does the -coordinate of the vertex represent in this scenario?
- Could you find the selling price of each widget that yields the maximum profit?
- How would the equation change if fixed costs increased by $100?
Tip: For profit optimization problems, always check whether the quadratic function opens upwards () or downwards () to determine whether you're finding a maximum or minimum.
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Math Problem Analysis
Mathematical Concepts
Quadratic Equations
Vertex of a Parabola
Profit Maximization
Formulas
y = ax^2 + bx + c
x = -b / 2a (vertex formula)
Theorems
Vertex Theorem for Quadratic Functions
Suitable Grade Level
Grades 9-12
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