The cost, in millions of dollars, of building a three-story high school in New York State was estimated to be
C(x) = 2.2 + 0.13x − 0.0001x2 (20 ≤ x ≤ 400)
where x is the number of thousands of square feet. Suppose that you are contemplating building a for-profit three-story high school and estimate that your total revenue will be $0.17 million dollars per thousand square feet. What is the profit function (in millions of dollars)?
What size school should you build to break even? (Round your answer to three decimal places.)
2, Find a linear equation whose graph is the straight line with the given properties. HINT [See Example 2.]
and increasing at a rate of 7 units of y per unit of x.
The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2012 and 2013.
|Selling Price ($)||385||315|
(a) Use the data to obtain a linear demand function for this type of cell phone. (Let p be the price, and let q be the demand).
3, Use your demand equation to predict sales if the price is lowered to $285.
(b) Fill in the blank.
For every $1 increase in price, sales of this type of cell phone decrease by million units.