A taxi ride costs 2.75 for the first quarter of a mile and 0.85 for each susequent quarter mile
1 answer:
You might be interested in
Using the vertex of a quadratic function, it is found that:
a) The revenue is maximized with 336 units.
b) The maximum revenue is of $56,448.
<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.
The demand function is given by:
p(x) = 336 - 0.5x.
Hence, the revenue function is:
R(x) = xp(x)
R(x) = -0.5x² + 336x.
Which has coefficients a = -0.5, b = 336.
Hence, the value of x that maximizes the revenue, and the maximum revenue, are given, respectively, as follows:
More can be learned about the vertex of a quadratic function at brainly.com/question/24737967
#SPJ1
Answer:
We need a sample size of at least 1698.
Step-by-step explanation:
We have that to find our level, that is the subtraction of 1 by the confidence interval divided by 2. So:
Now, we have to find z in the Ztable as such z has a pvalue of .
So it is z with a pvalue of , so
Now, find the margin of error M as such
In which is the standard deviation of the population and n is the size of the sample.
You want the margin of error to be only one minute. What sample size do you need if the confidence level is 99%?
This is at least n when . So
Rouding up
We need a sample size of at least 1698.