Answer:
New price is $12.75
New attendance is 57500
Step-by-step explanation:
For starters, we use the relation.
18 - 3x
Since we don't know the number of times we're expected to deduct $3 from the price.
Again, we have 40000 + 10000x on another hand. Question says to add 10000 people everytime $3 is deducted.
Since (40000 + 10000x) is the number of people, we multiply it by $4.50, the average amount each person spends is then gotten to be
(18 - 3x) (40000 + 10000x) + (40000 + 10000x) (4.5) = 0
Expanding the bracket, we have
[720000 + 60000x - 30000x²] + [180000 + 45000x] = 0, solving further, we have
900000 + 105000x - 30000x² = 0 or
-30000x² + 105000x + 900000 = 0
Then, we find the maximum of a quadratic, by finding the axis of symmetry. Use x = -b/2a
x = -105000 / 2 * -30000
x = -105000 / -60000
x = 1.75
From our earlier equations, the new price then is
18 - 3(1.75) = 18 - 5.25 = $12.75
The new attendance also is
40000 + 10000(1.75) =
40000 + 17500 = 57500
