The table below represents the closing prices of stock ABC for the last five days. What is the r-value of the linear regression
2 answers:
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Answer:
A) Pairs of sunglasses should be sold to maximize profits is 100 thousand.
B) The actual maximum profits that can be expected is 180 thousands dollars.
Step-by-step explanation:
Given : Suppose the Sunglasses Hut Company has a profit function given by
where, q is the number of thousands of pairs of sunglasses sold and produced and P(q) is the total profit, in thousands of dollars, from selling and producing q pairs of sunglasses.
To find :
A) How many pairs of sunglasses (in thousands) should be sold to maximize profits?
Profit is
Compare with general quadratic equation
a=-0.02, b=4, c=-20
The maximum value of quadratic function is at
So, maximum profit occur at q is given by,
i.e. 100 thousand pair of sunglasses.
Pairs of sunglasses should be sold to maximize profits is 100 thousand.
B) What are the actual maximum profits (in thousands) that can be expected?
Maximum profit occurs at q=100 thousand pairs is given by,
The actual maximum profits that can be expected is 180 thousands dollars.