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:
This is a quadratic function of the form:
Where:
Since , the parabola opens downwards, meaning there is a maximum point at the vertex of the parabola.
The formula for the vertex of a quadratic function is:
Substitute the values for and :
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:
- How can you calculate the maximum profit using this value of ?
- What if the quadratic had a positive leading coefficient? How would it affect the result?
- How do you find the vertex of a parabola geometrically?
- How do we interpret the value of in real-world problems?
- 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 .
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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
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