Question

The marketing research department of a computer company used a large city to test market the...

The marketing research department of a computer company used a large city to test market the firm’s new laptop. The department found that the relationship between price p (dollars per unit) and the demand x (units per week) was given approximately by p=1,296-0.12x^2 0≤x≤80) So, weekly revenue can be approximated by R(x)=xp=1,296x-0.12x^3 Find all critical numbers of the function, then use the second-derivative test on each critical number to determine if it is a local maximum or minimum in order to find the maximum revenue.

Math   Precalculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A company’s market research department recommends the manufacture and marketing of a new headphone set for...
A company’s market research department recommends the manufacture and marketing of a new headphone set for the iPhoneXS. iphone2.png After suitable test marketing, the research department presents the following demand function... p = 74 - 2q The financial department provides the cost function below... C(q) = 78 + 17q where $78 is the estimate of fixed costs (tooling and overhead) and $17 is the estimate of marginal costs per headphone set (materials, labor, marketing, transportation, storage, etc.). Find the price,...
1. At a price $p per unit, the marketing department at a local company esti- mates...
1. At a price $p per unit, the marketing department at a local company esti- mates that the weekly costs are given by the equation C = 2p + 12 and the revenue is given by the equation R = 10p ? p2 (a) The company makes a profit when the revenue is bigger than the costs. At what prices will the company have a profit? (b) The company will have a loss if the costs are greater than the...
Marketing research has found that at a price of $179.95 per unit, sales would be 175,000...
Marketing research has found that at a price of $179.95 per unit, sales would be 175,000 units each week. If that price were to be raised by $10 per unit then sales would decrease by 5,000 units each week. Production costs for this item are $54 per unit with weekly overhead costs of $225,000. Let x represent the number of units. d. Find the linear cost function for the situation described. e. Find the profit function g. Find the marginal...
4. When the second derivative test (SDT) is used for a critical point the result can...
4. When the second derivative test (SDT) is used for a critical point the result can be local maximum, local minimum, saddle point or test inconclusive. Consider the function f(x, y) = y^2 − 2y cos(x) with domain restricted to {(x, y) | −1 ≤ x ≤ 4 and − 2 ≤ y ≤ 4} and the three points P = ( π/2 , 0) Q = (0, 1) and R = (π, −1). (a) Find all the critical points...
4. When the second derivative test (SDT) is used for a critical point the result can...
4. When the second derivative test (SDT) is used for a critical point the result can be local maximum, local minimum, saddle point or test inconclusive. Consider the function f(x, y) = y 2 − 2y cos(x) with domain restricted to {(x, y) | −1 ≤ x ≤ 4 and − 2 ≤ y ≤ 4} and the three points P = ( π 2 , 0) Q = (0, 1) and R = (π, −1). (a) Find all the...
3. Critical analysis Q3 Compute-Accounting, Inc., uses computer technology and data-entry operators to provide accounting services...
3. Critical analysis Q3 Compute-Accounting, Inc., uses computer technology and data-entry operators to provide accounting services in a competitive market. For each accounting statement processed, the firm receives a $200 fee (column 4 in the following table). Given the firm’s current fixed capital, column 2 shows how total output changes as additional data entry operators are hired. The marginal revenue product (MRP) schedule (column 6) indicates how hiring an additional operator affects the total revenue of the firm. Because a...
Japan-Test Market for the World The following mini case represents an example of the unique marketing...
Japan-Test Market for the World The following mini case represents an example of the unique marketing attributes of a foreign culture. Here the focus is on the idiosyncrasies of the Japanese market and how they can be used to establish a pilot or ''test'' market for the rest of the world. In this particular activity, the focus is on establishing a test market, one that can be used to test the various features of a product and the receptivity of...
1. A city official claims that the proportion of all commuters who are in favor of...
1. A city official claims that the proportion of all commuters who are in favor of an expanded public transportation system is 50%. A newspaper conducts a survey to determine whether this proportion is different from 50%. Out of 225 randomly chosen commuters, the survey finds that 90 of them reply yes when asked if they support an expanded public transportation system. Test the official’s claim at α = 0.05. 2. A survey of 225 randomly chosen commuters are asked...
Department of Management Information Systems, Operations Management and Decision Sciences, University of Dayton, Dayton, Ohio 45419,...
Department of Management Information Systems, Operations Management and Decision Sciences, University of Dayton, Dayton, Ohio 45419, [email protected] Hub Group, a North American intermodal freight rail transportation company, developed an integrated produc- tion decision support system to improve its yield management and container allocation. The system combines a suite of analytical tools, including forecasting, error distribution analysis, expected value-based heuristics, and optimization tools to improve the decision making of Hub's frontline employees. It is important to note that the production decision...
The Halls Gap Wildlife Park offers a unique Australian wildlife experience. The park offers a scenic...
The Halls Gap Wildlife Park offers a unique Australian wildlife experience. The park offers a scenic comfortable nature walk around the facilities, with the chance to get up close and personal to some of Australia’s most famous native animals. With over 100 kangaroos roaming free, around the park, there is an opportunity to experience hand feeding these amazing animals. Visitors also have a chance to interact with koalas, wombats, and a variety of reptiles ranging from snakes to lizards and...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT