Since a $5 decrease in price increases customers by 20 we can say that we have two points:
(125,100) and (120,120), from these we can find the slope or rate of change of customers as a function of price...
m=20/-5
m=-4
m=-4
c(p)=-4p+b, now we can use (125,100) to solve for b
100=-4(125)+b
100=-500+b
600=b, so our number of customers as a function of price is:
c(p)=600-4p
Revenue will simply be the number of customers times the price charged per customer...or p*c(p):
r(p)=600p-4p^2
We can find price that creates maximum revenue by finding when the derivative is equal to zero...
dr/dp=600-8p
dr/dp=0 only when
0=600-8p
8p=600
p=75
So the price that maximizes revenue is $75.
PM after 10 months is priced at 3650
pN after 10 months is priced at 4000
I hope you can answer your question with that! :)
Answer:
0.7422 = 74.22% of scores are above 74.
Step-by-step explanation:
Problems of normally distributed samples can be solved using the z-score formula.
In a set with mean 
and standard deviation 
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
Calculate the proportion of scores above 74.
This is 1 subtracted by the pvalue of Z when X = 74. So
has a pvalue of 0.2578
So 1-0.2578 = 0.7422 = 74.22% of scores are above 74.
All you need to do is multiply 2 by 5 and you'll get the answer of 10
