If m<1 = (11x +2) and m<7 = (8x + 7) , find the value of 'x'
1 answer:
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Answer:
The ticket price that maximizes revenue is $50.
The maximum monthly revenue is $250,000.
Step-by-step explanation:
We have to write a function that describes the revenue of the airline.
We know one point of this function: when the price is $30, the amount of passengers is 7000.
We also know that for an increase of $1 in the ticket price, the amount of passengers will decrease by 100.
Then, we can write the revenue as the multiplication of price and passengers:
where x is the variation in the price of the ticket.
Then, if we derive R in function of x, and equal to 0, we will have the value of x that maximizes the revenue.
We know that the increment in price (from the $30 level) that maximizes the revenue is $20, so the price should be:
The maximum monthly revenue is:
Answer:
a.0.126
b.100.6356
c.5.010
Step-by-step explanation:
Answer:
Step-by-step explanation:
The formula for <u>exponential growth</u> is y = ab^x.
To write this equation, we know it has to start with 48 (which is the variable a). We need to add the rate of growth. This is 11/6 (which is variable b). But we also need to account for the "every 3.5 years" part, so divide the x as an exponent by 3.5.
N(t) = 48 * 11/6^(t/3.5)
This equation is easy to test, and it's a good idea to test it after you write it. For example, after 3.5 years we know that it should have 48*11/6 branches. Does our equation work? Yes.