Using the vertex of a quadratic equation, it is found that the company should charge each customer $15 per day to maximize revenue.
<h3>What is the vertex of a quadratic equation?</h3>
A quadratic equation is modeled by:
The vertex is given by:
In which:
Considering the coefficient a, we have that:
- If a < 0, the vertex is a maximum point.
- If a > 0, the vertex is a minimum point.
In this problem, the number of bikes rented per day is given by:
n(p) = 300 - 10p.
Hence, the revenue function is given by:
R(n) = p x n(p)
R(n) = 300p - 10p².
Which is a quadratic function with coefficients a = -10, b = 300. Hence, the price in dollars that will maximize the revenue is given by:
More can be learned about the vertex of a quadratic equation at brainly.com/question/24737967