Revenue. A dairy is planning to introduce and promote a new line of organic ice cream. After test marketing the new line in a large city, the marketing research department found that the demand in that city is given approximately by p = 10 e − x 0 ≤ x ≤ 5 where x thousand quarts were sold per week at a price of $ p each. (A) Find the local extrema for the revenue function. (B) On which intervals is the graph of the revenue function concave upward? Concave downward?
Revenue. A dairy is planning to introduce and promote a new line of organic ice cream. After test marketing the new line in a large city, the marketing research department found that the demand in that city is given approximately by p = 10 e − x 0 ≤ x ≤ 5 where x thousand quarts were sold per week at a price of $ p each. (A) Find the local extrema for the revenue function. (B) On which intervals is the graph of the revenue function concave upward? Concave downward?
Solution Summary: The author explains how to find the local extrema of the revenue function of a company.
Revenue. A dairy is planning to introduce and promote a new line of organic ice cream. After test marketing the new line in a large city, the marketing research department found that the demand in that city is given approximately by
p
=
10
e
−
x
0
≤
x
≤
5
where x thousand quarts were sold per week at a price of $p each.
(A) Find the local extrema for the revenue function.
(B) On which intervals is the graph of the revenue function concave upward? Concave downward?
A simple random sample of 40 items resulted in a sample mean of 25. The population standard deviation is 5.
a. What is the standard error of the mean (to 2 decimals)?
b. At 95% confidence, what is the margin of error (to 2 decimals)?
mean trough level of the population to be 3.7 micrograms/mL. The researcher conducts a study among 93 newly diagnosed arthritis patients and finds the mean trough to be 4.1 micrograms/mL with a standard deviation of 2.4 micrograms/mL. The researcher wants to test at the 5% level of significance if the trough is different than previously reported or not. Z statistics will be used.
Complete Step 5 of hypothesis testing: Conclusion. State whether or not you would reject the null hypothesis and why. Also interpret what this means (i.e. is the mean trough different from 3.7 or no
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