Math Problem Statement

A tourist agency’s profit P( in dollars) can be modelled by the function P(x)= -25x^2+1000x-3000, where x is the number of tourists. Determine how many tourists are needed for the agency’s profit to be at least $5000.

Solution

We are given the profit function:

P(x)=25x2+1000x3000P(x) = -25x^2 + 1000x - 3000

We want to find how many tourists xx are needed for the agency's profit to be at least $5000. This means solving the inequality:

P(x)5000P(x) \geq 5000

Substitute 5000 for P(x)P(x):

25x2+1000x30005000-25x^2 + 1000x - 3000 \geq 5000

Now, simplify this inequality:

25x2+1000x300050000-25x^2 + 1000x - 3000 - 5000 \geq 0

25x2+1000x80000-25x^2 + 1000x - 8000 \geq 0

To simplify further, divide the entire inequality by 25-25 (note that dividing by a negative flips the inequality sign):

x240x+3200x^2 - 40x + 320 \leq 0

We now solve the quadratic inequality:

  1. Solve the quadratic equation x240x+320=0x^2 - 40x + 320 = 0 using the quadratic formula:

x=(40)±(40)24(1)(320)2(1)x = \frac{-(-40) \pm \sqrt{(-40)^2 - 4(1)(320)}}{2(1)}

x=40±160012802x = \frac{40 \pm \sqrt{1600 - 1280}}{2}

x=40±3202x = \frac{40 \pm \sqrt{320}}{2}

x=40±17.892x = \frac{40 \pm 17.89}{2}

The two solutions are:

x1=40+17.892=28.945(approximately 29)x_1 = \frac{40 + 17.89}{2} = 28.945 \quad \text{(approximately 29)} x2=4017.892=11.055(approximately 11)x_2 = \frac{40 - 17.89}{2} = 11.055 \quad \text{(approximately 11)}

Thus, the solutions to the quadratic equation are approximately x=11x = 11 and x=29x = 29.

  1. Since we have x240x+3200x^2 - 40x + 320 \leq 0, the values of xx between 11 and 29 satisfy this inequality.

Conclusion:

The number of tourists needed for the agency's profit to be at least $5000 is between 11 and 29 tourists.

Do you have any questions or would you like further details?


Here are 5 related questions for further exploration:

  1. What is the maximum profit the agency can achieve?
  2. How many tourists are needed for the agency to break even (profit = 0)?
  3. What happens to the profit if the number of tourists exceeds 29?
  4. How would the profit function change if costs were increased by $2000?
  5. How does the shape of the profit function graph help determine optimal tourist numbers?

Tip: When solving quadratic inequalities, graphing the function can help visualize which intervals satisfy the inequality.

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Math Problem Analysis

Mathematical Concepts

Quadratic Functions
Inequalities
Profit Maximization

Formulas

Quadratic equation: ax^2 + bx + c = 0
Quadratic inequality: ax^2 + bx + c ≥ d

Theorems

Quadratic formula: x = (-b ± √(b² - 4ac)) / 2a

Suitable Grade Level

Grades 9-11