Given the data table below answer the questions that follow. Price per unit 5 10 15 20 25 30 weekly profit in thousands -8256 -1035 485 1400 820 -1200 a Find the best fit quadratic model for the data listed above. b. According to your model what price would cause the company to have a maximum profit? c. According to your model what is the company’s predicted maximum profit? d. The company has decided that as long as they make at least $500 thousand in profit each week they will stay in business. What range of prices will allow them to reach this goal?

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Given the data table below answer the questions that follow.

Price per unit

5

10

15

20

25

30

weekly profit in thousands

-8256

-1035

485

1400

820

-1200

a Find the best fit quadratic model for the data listed above.

b. According to your model what price would cause the company to have a maximum profit?

c. According to your model what is the company’s predicted maximum profit?

d. The company has decided that as long as they make at least $500 thousand in profit each week they will stay in business. What range of prices will allow them to reach this goal?

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