Math Problem Statement

A company finds that it can make a profit of P dollars each month by selling x patterns, according to the formula P (x) = - 002x + 3.5x - 1300.. How many patterns must it sell each month to have a maximum profit?

Solution

The profit function is given as:

P(x)=0.002x2+3.5x1300P(x) = -0.002x^2 + 3.5x - 1300

This is a quadratic function of the form:

P(x)=ax2+bx+cP(x) = ax^2 + bx + c

Where:

  • a=0.002a = -0.002
  • b=3.5b = 3.5
  • c=1300c = -1300

Since a<0a < 0, the parabola opens downwards, meaning there is a maximum point at the vertex of the parabola.

The formula for the vertex xx of a quadratic function P(x)=ax2+bx+cP(x) = ax^2 + bx + c is:

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

Substitute the values for aa and bb:

x=3.52(0.002)=3.50.004=875x = \frac{-3.5}{2(-0.002)} = \frac{-3.5}{-0.004} = 875

Therefore, the company must sell 875 patterns each month to achieve the maximum profit.

Would you like more details on this solution?

Here are five related questions:

  1. How can you calculate the maximum profit using this value of xx?
  2. What if the quadratic had a positive leading coefficient? How would it affect the result?
  3. How do you find the vertex of a parabola geometrically?
  4. How do we interpret the value of bb in real-world problems?
  5. What would happen to the profit function if fixed costs increased?

Tip: Always verify if a quadratic function opens upwards or downwards by checking the sign of the leading coefficient aa.

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Math Problem Analysis

Mathematical Concepts

Algebra
Quadratic Functions
Maxima and Minima

Formulas

Vertex formula for a quadratic function x = -b / (2a)

Theorems

Properties of quadratic functions
Vertex of a parabola

Suitable Grade Level

Grades 9-11