**Understanding Quadratic Models in Business Revenue**The weekly revenue of a business selling gummy bear bags is a function of the price per bag. Given the following data points:1. Weekly revenue is $12,500 when the price is $2.50.2. Weekly revenue is $10,880 when the price is $3.40.We aim to find a quadratic model that accurately represents this relationship. Additionally, it's important to note that the revenue is $0 if the price of the gummy bears is $0.Let $ p $ be the price of a bag of gummy bears. Then:\[ \text{Revenue} = R(p) = \boxed{} \]By establishing a quadratic equation that fits the given data, we can predict the revenue based on different prices, helping the business optimize its pricing strategy for maximum revenue.

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Description: **Understanding Quadratic Models in Business Revenue**The weekly revenue of a business selling gummy bear bags is a function of the price per bag. Given the following data points:1. Weekly revenue is $12,500 when the price is $2.50.2. Weekly revenue

Given that weekly revenue is function of price. That is, Revenue = R(p) at P = $2.50, Revenue =…

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The weekly revenue of a business selling gummy bear bags is a function of price. Weekly revenue is $12,500 when the price is $2.50 but is $10,880 when the price is $3.40 Find a quadratic model that fits this information. Also know that the revenue is $0 if the price is $0. Let p = the price of a bag of gummy bears. Then: Revenue = R(p) = %3D

The weekly revenue of a business selling gummy bear bags is a function of price. Weekly revenue is $12,500 when the price is $2.50 but is $10,880 when the price is $3.40 Find a quadratic model that fits this information. Also know that the revenue is $0 if the price is $0. Let p = the price of a bag of gummy bears. Then: Revenue = R(p) = %3D

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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**Understanding Quadratic Models in Business Revenue**

The weekly revenue of a business selling gummy bear bags is a function of the price per bag. Given the following data points:

1. Weekly revenue is $12,500 when the price is $2.50.
2. Weekly revenue is $10,880 when the price is $3.40.

We aim to find a quadratic model that accurately represents this relationship. Additionally, it's important to note that the revenue is $0 if the price of the gummy bears is $0.

Let $ p $ be the price of a bag of gummy bears. Then:

\[ \text{Revenue} = R(p) = \boxed{} \]

By establishing a quadratic equation that fits the given data, we can predict the revenue based on different prices, helping the business optimize its pricing strategy for maximum revenue.

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