Math Problem Statement

To maximize the monthly rental profit, how many units should be rented out? What is the maximum monthly profit (in dollars) realizable?

Solution

Let's analyze the problem.

The profit function given is:

P(x)=10x2+1620x49000P(x) = -10x^2 + 1620x - 49000

To maximize the monthly rental profit, we need to find the value of xx that gives the maximum point of this quadratic function. Since the coefficient of x2x^2 is negative (10-10), the parabola opens downward, and the maximum profit occurs at the vertex of the parabola.

Step 1: Finding the Vertex

The vertex of a quadratic function ax2+bx+cax^2 + bx + c occurs at:

x=b2ax = -\frac{b}{2a}

Here, a=10a = -10 and b=1620b = 1620. Substituting these values, we get:

x=16202(10)=162020=81x = -\frac{1620}{2(-10)} = \frac{1620}{20} = 81

Therefore, the maximum profit occurs when 81 units are rented out. This is consistent with the answer already provided.

Step 2: Finding the Maximum Profit

We now need to find the maximum profit by substituting x=81x = 81 into the profit function P(x)P(x):

P(81)=10(81)2+1620(81)49000P(81) = -10(81)^2 + 1620(81) - 49000

Calculating each term:

  1. 10812=106561=65610-10 \cdot 81^2 = -10 \cdot 6561 = -65610
  2. 162081=1312201620 \cdot 81 = 131220

Thus:

P(81)=65610+13122049000=16610P(81) = -65610 + 131220 - 49000 = 16610

The maximum monthly profit is $16,610, not $32,220 as mentioned in the image.

Summary:

  • Units to rent out for maximum profit: 81
  • Maximum monthly profit: $16,610

Would you like further details or explanations on any step?

Here are 5 related questions to explore this topic further:

  1. How can we find the maximum point of a quadratic function if it does not open downward?
  2. What happens to the profit function if the cost per unit changes?
  3. How does the coefficient of x2x^2 affect the shape of the parabola?
  4. Can the profit function have more than one maximum point?
  5. How do real-world constraints (like a limit on the number of units) affect the calculation of maximum profit?

Tip: For quadratic functions, always look for the vertex to find maximum or minimum values.

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Math Problem Analysis

Mathematical Concepts

Quadratic Functions
Vertex of a Parabola
Maximizing Profits

Formulas

P(x) = -10x^2 + 1620x - 49000
Vertex formula: x = -b / (2a)
Substitute the vertex back into the quadratic function to calculate the maximum profit

Theorems

The vertex of a downward-opening parabola gives the maximum point.

Suitable Grade Level

Grades 9-12