The DaveCo Giant Robot division finds that its profit P, (In millions of dollars) is a function of the amount of money spent on marketing m, (in millions of dollars), the price for each Giant Robot r, (in millions of dollars), and the number of Giant Robots sold g, : (P(m, r, g)) = rg – m – 2g*(0.95^g) – 10 a) Interpret with words: P(10, 5, 7) ≈ 5.223 b) If last year DaveCo spent $12,000,000 on marketing, sells each Giant Robot for $10,000,000, and sold 5 giant robots, did they operate at a profit or a loss? c) How much profit or loss did DaveCo earn in the above situation?
1) The DaveCo Giant Robot division finds that its profit P, (In millions of dollars) is a function of the amount of money spent on marketing m, (in millions of dollars), the price for each Giant Robot r, (in millions of dollars), and the number of Giant Robots sold g, :
(P(m, r, g)) = rg – m – 2g*(0.95^g) – 10
a) Interpret with words: P(10, 5, 7) ≈ 5.223
b) If last year DaveCo spent $12,000,000 on marketing, sells each Giant Robot for $10,000,000, and sold 5 giant robots, did they operate at a profit or a loss?
c) How much profit or loss did DaveCo earn in the above situation?
d) Find all three of the partial derivatives for the profit function
(P (m, r, g))= rg – m – 2g*(0.95^g) – 10 as above and interpret them with words and units.
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