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A street vendor constructs the table below on the basis of sales data. (Note: Consumer expenditure and revenue are terms for the same thing from different perspectives. Consumer expenditure is the amount of money that consumers spend on a product, and revenue is the amount of money that businesses take in by selling the product.). Sales of Roses, Given the Price per Dozen Sales (dozen roses) Price (dollars) 20 166 156 131 91 (a) Find a quadratic function for the model of the data that gives the quantity sold at x dollars, data from 20 sxs 32. (Round all numerical values to three decimal places) 5(x)= 25 30 32 (b) Find a function for the model for consumer expenditure (revenue for the vendor), where x is the price in dollars, data from 20 sxs 32 (Round all numerical values to three decimal places) R(X)- (c) What price should the street vendor charge to maximize consumer expenditure? (Round your answer to two decimal places) $ (d) If each dozen roses costs the vendor $13, what price should he charge to maximize his proht? (Round your answer to two decimal places) S

A street vendor constructs the table below on the basis of sales data. (Note: Consumer expenditure and revenue are terms for the same thing from different perspectives. Consumer expenditure is the amount of money that consumers spend on a product, and revenue is the amount of money that businesses take in by selling the product.). Sales of Roses, Given the Price per Dozen Sales (dozen roses) Price (dollars) 20 166 156 131 91 (a) Find a quadratic function for the model of the data that gives the quantity sold at x dollars, data from 20 sxs 32. (Round all numerical values to three decimal places) 5(x)= 25 30 32 (b) Find a function for the model for consumer expenditure (revenue for the vendor), where x is the price in dollars, data from 20 sxs 32 (Round all numerical values to three decimal places) R(X)- (c) What price should the street vendor charge to maximize consumer expenditure? (Round your answer to two decimal places) $ (d) If each dozen roses costs the vendor $13, what price should he charge to maximize his proht? (Round your answer to two decimal places) S

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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A street vendor constructs the table below on the basis of sales data. (Note: Consumer expenditure and revenue are terms for the same thing from different perspectives. Consumer expenditure is the amount of money that consumers spend on a product, and revenue is the amount of money that businesses take in by selling the product.). Sales of Roses, Given the Price per Dozen Sales (dozen roses) Price (dollars) 20 166 156 131 91 (a) Find a quadratic function for the model of the data that gives the quantity sold at x dollars, data from 20 sxs 32. (Round all numerical values to three decimal places) 5(x)= 25 30 32 (b) Find a function for the model for consumer expenditure (revenue for the vendor), where x is the price in dollars, data from 20 sxs 32 (Round all numerical values to three decimal places) R(X)- (c) What price should the street vendor charge to maximize consumer expenditure? (Round your answer to two decimal places) $ (d) If each dozen roses costs the vendor $13, what price should he charge to maximize his proht? (Round your answer to two decimal places) S
Transcribed Image Text:A street vendor constructs the table below on the basis of sales data. (Note: Consumer expenditure and revenue are terms for the same thing from different perspectives. Consumer expenditure is the amount of money that consumers spend on a product, and revenue is the amount of money that businesses take in by selling the product.). Sales of Roses, Given the Price per Dozen Sales (dozen roses) Price (dollars) 20 166 156 131 91 (a) Find a quadratic function for the model of the data that gives the quantity sold at x dollars, data from 20 sxs 32. (Round all numerical values to three decimal places) 5(x)= 25 30 32 (b) Find a function for the model for consumer expenditure (revenue for the vendor), where x is the price in dollars, data from 20 sxs 32 (Round all numerical values to three decimal places) R(X)- (c) What price should the street vendor charge to maximize consumer expenditure? (Round your answer to two decimal places) $ (d) If each dozen roses costs the vendor $13, what price should he charge to maximize his proht? (Round your answer to two decimal places) S
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