When a management training company prices its seminar on management techniques at $400 per person, 1,000 people will attend the seminar. The company estimates that for each $5 reduction in price, an additional 20 people will attend the seminar. Let x represent the number of $5 reductions.
When a management training company prices its seminar on management techniques at $400 per person, 1,000 people will attend the seminar. The company estimates that for each $5 reduction in price, an additional 20 people will attend the seminar. Let x represent the number of $5 reductions.
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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Use the Maximum Revenue information above to answer this question.
The revenue function R(X) has one critical number X=_________.
Use the Maximum Revenue information above to answer this question.
Since R(X) is continuous, we can determine the absolute maximum by evaluating R(X) at the endpoints and the critical number.
After doing so, we see the maximum revenue occurs when X=______ price reductions.
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