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The profit function for a business is given by the equation P(x)=-4x² +16x-7, where x is the number of items sold in thousands and P(x) is the profit in thousands of dollars. Below is the graph of this profit function. P(x)=-4x +16x-7

The profit function for a business is given by the equation P(x)=-4x² +16x-7, where x is the number of items sold in thousands and P(x) is the profit in thousands of dollars. Below is the graph of this profit function. P(x)=-4x +16x-7

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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2. Using the graph of the profit function on page 1 and average rates of change, calculate the marginal profit at five (5) different points. 3. Using the graph of the profit function on page 1 and tangent lines, calculate the marginal profit at the same five (5) points. 4. Which method is more accurate? Explain. 5. Which method is easier? Explain. 6. For all five points, interpret the value you found. Make sure to use correct units in your description. 7. If you owned this business, how many units would you want to sell? Explain. 8. Describe how the marginal profit changes throughout the graph. Your response should include a discussion about slopes.
Transcribed Image Text:2. Using the graph of the profit function on page 1 and average rates of change, calculate the marginal profit at five (5) different points. 3. Using the graph of the profit function on page 1 and tangent lines, calculate the marginal profit at the same five (5) points. 4. Which method is more accurate? Explain. 5. Which method is easier? Explain. 6. For all five points, interpret the value you found. Make sure to use correct units in your description. 7. If you owned this business, how many units would you want to sell? Explain. 8. Describe how the marginal profit changes throughout the graph. Your response should include a discussion about slopes.
The profit function for a business is given by the equation P(x)=-4x +16x-7, where x is the number of items sold in thousands and P(x) is the profit in thousands of dollars. Below is the graph of this profit function. P(x)=-4x+16x-7 15 25
Transcribed Image Text:The profit function for a business is given by the equation P(x)=-4x +16x-7, where x is the number of items sold in thousands and P(x) is the profit in thousands of dollars. Below is the graph of this profit function. P(x)=-4x+16x-7 15 25
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