Statistics for Management and Economics (Book Only)
11th Edition
ISBN: 9781337296946
Author: Gerald Keller
Publisher: Cengage Learning
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Chapter 5.3, Problem 15E
To determine
Stratified random sample:
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A company produces and sells a consumer product and is able to control the demand for the product by
varying the selling price. The approximate relationship between price and demand is p= 200-0.05D
where p is the price per unit in dollars and D is the demand per month. The company is seeking to
maximize its profit. The fixed cost is $15000 per month and the variable cost is $50 per unit.
a. What is the number of units that should be produced and sold each month to maximize profit?
b. What is the domain of profitable demand during a month?
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Chapter 5 Solutions
Statistics for Management and Economics (Book Only)
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