Annual profit in thousands of dollars is given by the function, P(x) = -.1x2 + 50x - 300, where x is the number of items sold, x ? 0.

Describe the meaning of the number -.1 in the formula, in terms of its meaning in relation to the profit.
Describe the meaning of the number -300 in the formula, in terms of its meaning in relation to the profit.
Find the profit for 5 different values of x
Graph the profit function over its given domain; use the 5 values calculated in part 3 to construct the graph and connect these points with a smooth curve In Excel or another graphing utility. Insert the graph in a Word file and attach the graph in a Word file to the class DB thread.
Will this profit function have a maximum, if so, what is it?
What steps should the company take to prepare for your answer to part 5?
Post your final draft as a response to this post; use the small group area for collaboration.

Solution Preview

See the attached file.

-.1 in the equation is the coefficient that is multiplied to the square of the number of items sold. This term will reduce the profit by a factor of .1 for the square of every item sold, and can be attributed as a factor that deducts a small portion of profit for selling each item.

-300 in the formula is a constant, which is a representation ...

Solution Summary

Quadratic function models are examined in the solution. The profits for the different values are determined.

... b. Does it appear that a quadratic function can be used to model the data? ... b. Does it appear that a quadratic function can be used to model the data? ...

... Round the quadratic coefficient to five decimal places ... on the same axes with the data points to determine visually which function is the best model for the ...

... 2. A manufacturing company uses the following function to model the unit cost ... A step by step solution is provided to word problems on quadratic functions. ...

... b. Use the model to estimate the percent for the girls age 17 or younger who have been sexually active. c. Find the quadratic function that is the best fit for ...

... Again using the quadratic formula to solve for where ... height we need to compute the function describing the ... when the differential of our model function (3) is ...

... can be, can be predicted using a quadratic function. The f-statistic is large that is 13.5 and the p value is less than 0.05 means that your model has some ...

... 3.) Plot data along with best-fit model. ... Idea: Approximate F (x) around xk by quadratic function: 1T Q(xk + s) = F (xk ) + s · gk + s Hk s 2 and ﬁnd step sk ...