Question

The complex has 250 available living spaces. Our monthly profit in dollars is modeled by the...

The complex has 250 available living spaces. Our monthly profit in dollars is modeled by the following equation where x is the number of living spaces, P(x)= -8x2+3200x-80,000

How many of these living spaces should we rent out in order to maximize profit? Explain your answer and include a possible reason for your answer.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
To study the average price of living spaces in New York City, you collect data on...
To study the average price of living spaces in New York City, you collect data on the monthly rent of 30 houses in the city.  You find a sample average rent cost of $565.63 with a standard deviation of $697.61.  Use this information to construct a 99% confidence interval for the true mean rent cost in this area of New York City.  Show all work.  You do notneed to interpret the interval. (5 points) 11. It’s a fact that not everyone can roll their...
1. When a commercial bakery employs w full time bakers, the daily costs, in dollars, is...
1. When a commercial bakery employs w full time bakers, the daily costs, in dollars, is given by C(w)= 400w+ 1200√w, where C(w ) is in dollars. In order to produce x loaves of bread each day, they need w(x)= 0.005x+750/x bakers. The bakery currently supplies 500 loaves of bread each day. At what rate is the daily costs changing with respect to the number of loaves of bread they supply? Include units! 2.The number of babies born in a...
In this exercise, you will analyze the supply-demand equilibrium of a city under some special simplifying...
In this exercise, you will analyze the supply-demand equilibrium of a city under some special simplifying assumptions about land use. The assumptions are: (i) all dwellings must contain exactly 1,500 square feet of floor space, regardless of location, and (ii) apartment complexes must contain exactly 15,000 square feet of floor space per square block of land area. These land-use restrictions, which are imposed by a zoning authority, mean that dwelling sizes and building heights do not vary with distance to...
1.A fair die is rolled once, and the number score is noted. Let the random variable...
1.A fair die is rolled once, and the number score is noted. Let the random variable X be twice this score. Define the variable Y to be zero if an odd number appears and X otherwise. By finding the probability mass function in each case, find the expectation of the following random variables: Please answer to 3 decimal places. Part a)X Part b)Y Part c)X+Y Part d)XY ——- 2.To examine the effectiveness of its four annual advertising promotions, a mail...
The sandwich company, Alamo Lone Star (ALS) prepares sandwiches for sale in vending machines in a...
The sandwich company, Alamo Lone Star (ALS) prepares sandwiches for sale in vending machines in a large number of locations in an urban area. The four types of sandwich that are now provided are those that have been found to sell well. The following information is available on each type: Type of sandwhich Decision Variables Min. No of units sold Preparation time per unit (minutes) Profit per unit ($) Tuna Mayo T 200 0.40 0.42 Ham and Cheese H 200...
Question 1 Science affecting our daily lives is exemplified by: relying on hunches to solve crimes....
Question 1 Science affecting our daily lives is exemplified by: relying on hunches to solve crimes. using DNA evidence in criminal investigations. seeking the help of people with psychic visions in police work. relying entirely on preconceptions to identify people who may have committed crimes. 4 points Question 2 When an object’s velocity changes, which of the following must have occurred? A unbalanced force acted on the object. An balanced force acted on the object. The object started to deviate...
Fancy Millwork has a factory that produces custom kitchen cabinets. It has multiple product lines. Materials...
Fancy Millwork has a factory that produces custom kitchen cabinets. It has multiple product lines. Materials and labor for the cabinets are determined by each job. To simplify the assignment, we will assume the following average costs. The company estimates that it will have 32,000 direct labor hours in total for the kitchen cabinets. The materials include $2,000 for the wood and other materials on a per job basis. It requires 40 hours of labor on average for a custom...
1.    In a multiple regression model, the following coefficients were obtained: b0 = -10      b1 =...
1.    In a multiple regression model, the following coefficients were obtained: b0 = -10      b1 = 4.5     b2 = -6.0 a.    Write the equation of the estimated multiple regression model. (3 pts) b     Suppose a sample of 25 observations produces this result, SSE = 480. What is the estimated standard error of the estimate? (5 pts) 2.    Consider the following estimated sample regression equation: Y = 12 + 6X1 -- 3 X2 Determine which of the following statements are true,...
Review the Robatelli's Pizzeria Case Study. Develop another internal controls system, but this time, in the...
Review the Robatelli's Pizzeria Case Study. Develop another internal controls system, but this time, in the purchases and fixed assets business areas. Prepare a 12- to 16-slide presentation describing the purchases and fixed assets business areas. Be sure to incorporate speaker notes as well as appropriate visuals, graphics, fonts, etc. Include any associated risk in these areas. Describe specific internal controls that include authorization of transactions, segregation of duties, adequate records and documentation, security of assets, and independent checks and...
The assignment summary sheets will be submitted week 14 with Test 3. You are to personally...
The assignment summary sheets will be submitted week 14 with Test 3. You are to personally experience the power and satisfaction of developing these skills firsthand and to reflect and write about this experience. Over the years, many students have shared amazingly rewarding experiences as they worked on these skills. The assignment will be evaluated and be weighted as 5% of your final mark (together, they are worth 20% of your mark for Test 3, which is worth 25% of...