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umka2103 [35]
2 years ago
8

Question 4

Mathematics
1 answer:
Ilia_Sergeevich [38]2 years ago
3 0

Answer:

2

Step-by-step explanation:

Given

See attachment for chart

Required

Number of off days

To do this, we simply calculate the expected value of the chart.

This is calculated as:

E(x) = \sum x * f

Where

x = days

f = chances

So, we have:

E(x) = 0* 0.3 + 1 *0.2 + 2 * 0.25 + 3  * 0.2 + 4  * 0.02 + 5 * 0.01 + 6 * 0.01 + 7 * 0.01

E(x) = 1.56

E(x) \approx 2

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Answer:

restaurant should charge $(6-0.25) = $5.75per sandwich to maximize daily revenue.

the revenue is $1983.75

Step-by-step explanation:

to calculate current revenue= $6 x 330 = $1980

suppose x as the number of times the price to be dropped by $0.25

then find new price.. i.e

new price= $(6-0.25x)

and, new sell=330 +15x sandwiches

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in order to maximize the current revenue, simplify the above equation and make it complete square using x

(6-0.25x)(330 +15x)

=1980-82.5x +90x -3.75x^{2}

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=1980-3.75 (-2x+x^{2}) ----> taking out common

now, to make a complete square lets add and subtract 1 inside the parentheses

=1980-3.75(-1+1-2x+x^{2})

=1980 +3.75 -3.75(x^{2} -2x +1)

=1983.75 -3.75 (x-1)^{2}---->(1)

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so the minimum possible value of (x-1)^{2} = 0

therefore, x=1

putting x in eq(1) the revenure becomes,

$(1983.75-0)=> $1983.75

therefore, restaurant should charge $(6-0.25) = $5.75per sandwich to maximize daily revenue.

the revenue is $1983.75

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