1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
den301095 [7]
3 years ago
6

A manufacturer of kitchen appliances is preparing to set the price on a new blender. Demand is thought to depend on the price an

d is represented by the model D=2,000 - 4P. The accounting department estimates that the total costs can be represented by C = 6,000+ 3D. Develop a model for the total profit. Implement the model on a spreadsheet and use nonlinear optimization with Solver to find the price that maximizes profit.
The price that maximizes profit is P = $
(Round to the nearest cent as needed.)
Mathematics
1 answer:
grandymaker [24]3 years ago
3 0

Answer:

The price that maximize profit is P = $251.5

Step-by-step explanation:

The given function for the demand, D = 2,000 - 4·P

The function that represent the total cost, C = 6,000 + 3·D

Therefore, the revenue, R = P × D = P × (2,000 - 4·P) = 2000·P - 4·P²

The cost, C = 6000 + 3·D = 6,000 + 3 × (2,000 - 4·P) = 12,000 - 12·P

The profit, Pr = R - C = 2000·P - 4·P² - (12,000 - 12·P) = 2,012·P - 12,000 - 4·P²

∴ The profit, Pr = 2,012·P - 12,000 - 4·P²

Implementing the model on MS Excel with the Solver app, by implementing the following steps;

1) Enter a value for a price into a cell on MS Excel for example A1

2) Enter the equation into another cell on MS Excel by the first cell, entering the equal to sign, '=', before the equation while replacing 'P' in the original equation with the name of the price cell as follows;

'= 2012*A1 - 12000 - 4*A1^2

3) Ensure that the Solver Add-In is enabled on MS Excel from within the Options dialogue box opened from the Files menu

4) Select the Data tab then select Solver to open the Solver dialog box

5) For the Set Objective select the cell containing the formula then for the By Changing Variable Cells box, select cell A1

6) Ensure that Max is selected in the To options then select Solve; The maximum value will be displayed in the formula cell while the price that gives the maximum value will be displayed in A1

From MS Excel Solver application, the price that gives the maximum profit is P = $251.5

You might be interested in
Answer my question please! Dont answer if you dont know <3
Marina86 [1]

Answer:

1/2+1/4= 3/4 or 0.75

Step-by-step explanation:

8 0
2 years ago
Read 2 more answers
NEED HELP ASAP!!!!Instructions: Using the following image, solve for the trigonometry ratios of
Anni [7]

Answer:

17

8/17

Step-by-step explanation:

x=\sqrt{8^{2} +15^{2} }  =17

sin∠D = \frac{8}{17}

5 0
3 years ago
2x – 2y = -4 and x + y = 8<br> please show work having a hard time in math
Katena32 [7]

Step-by-step explanation:

y= 5

x=3

.................

7 0
3 years ago
Is 21,063 divisible by three? If it is, write a number as a product of three and another factor if not, explain
Zarrin [17]
Twenty-one thousand and sixty-three divided by three is 7021

First, take any number (for this example it will be 492) and add together each digit in the number (4+9+2 = 15). Then take that sum (15) and determine if it is divisible by 3. The original number is divisible by 3 (or 9) if and only if the sum of its digits is divisible by 3 (or 9).If a number is a multiplication of 3 consecutive numbers then that number is always divisible by 3. This is useful for when the number takes the form of (n * (n - 1)*(n + 1))Example: 492 (The original number). 4 + 9 + 2 = 15 (Add each individual digit together). 15 is divisible by 3 at which point we can stop. Alternatively we can continue using the same method if the number is still too large: 1 + 5 = 6 (Add each individual digit together). 6 ÷ 3 = 2 (Check to see if the number received is divisible by 3). 492 ÷ 3 = 164 (If the number obtained by using the rule is divisible by 3, then the whole number is divisible by 3)
4 0
3 years ago
How do I solve this?
blagie [28]

Answer:

We'll solve that in parts.

The upper part is a right triangle that is 4 by (2 + 2 +6)

Area = (4 * 10) /2 = 20

The bottom of that figure is made of 3 parts.

A) a 2 by 2 right triangle. area equals  (2*2)/2 = 2

B) a 2 by 2 square whose area equals 2*2 = 4

C) a 6 by 2 right triangle whose area equals (6*2) / 2 = 6

Total Area = 20 + 2 + 4 + 6 = 32

Step-by-step explanation:

8 0
3 years ago
Read 2 more answers
Other questions:
  • What is  8x8x8x7x7=<br>using write with exponents
    5·2 answers
  • How do I write 28,500/100,000 as a decimal number?
    14·1 answer
  • The slope-intercept form of the equation of a line that passes through point (–2, –13) is y = 5x – 3. What is the point-slope fo
    13·2 answers
  • Janet is trying to identity a number. She knows the following properties of the unknown number. The opposite of the unknown numb
    10·1 answer
  • Contrast the way boys and girls are treated in Pakistan, beginning at birth. Malala’s father places her name on the family tree.
    11·1 answer
  • 9+1/2(7n-26)-8n simplify
    15·1 answer
  • Please help I'm confused
    14·1 answer
  • HELP ME PLS IT IS TIMED
    14·1 answer
  • 2^m ÷ 2^ -4 = 4^5 pls help
    15·1 answer
  • Whats the 8th term of 12,18,27
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!