Question

A company sells widgets. The amount of profit, y, made by the company, is related to the selling price of each widget, x, by the given equation. Using this equation, find out what price the widgets should be sold for, to the nearest cent, for the company to make the maximum profit.
y=-14x^2+1035x-10266

Answer 1

The price the widgets should be sold for, to the nearest cent, for the company to make the maximum profit is 62.13

Quadratic equation

y = -14x² + 1035x - 10266

• solve the quadratic equation

-14x² + 1035x - 10266 = 0

x = -b ± √b² - 4ac / 2a

= -1035 ± √1035² -4(-14)(-10266) / 2(-14)

= -1035 ± √1071225 - 574896 / -28

= -1035 ± √496329 / -28

x = 1035 / 28 ± √496329 / 28

x = 11.80 or 62.13

The maximum value of x is 62.13

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