Answer:
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The probability distribution shows the probability of the number of prior car accidents for 100 individuals that have put in a c
laim with an insurance company following an accident.
What is the probability that an individual among these 100 represented had less than 3 prior car accidents?
Enter your answer, as a decimal, in the box.
What is the probability that an individual among these 100 represented had less than 3 prior car accidents?
Enter your answer, as a decimal, in the box.
1 answer:
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Answer:
Profit function: P(x) = -0.5x^2 + 40x - 300
profit of $50: x = 10 and x = 70
NOT possible to make a profit of $2,500, because maximum profit is $500
Step-by-step explanation:
(Assuming the correct revenue function is 90x−0.5x^2)
The cost function is given by:
And the revenue function is given by:
The profit function is given by the revenue minus the cost, so we have:
To find the points where the profit is $50, we use P(x) = 50 and then find the values of x:
Using Bhaskara's formula, we have:
So the values of x that give a profit of $50 are x = 10 and x = 70
To find if it's possible to make a profit of $2,500, we need to find the maximum profit, that is, the maximum of the function P(x).
The maximum value of P(x) is in the vertex. The x-coordinate of the vertex is given by:
Using this value of x, we can find the maximum profit:
The maximum profit is $500, so it is NOT possible to make a profit of $2,500.