Profit
Subject:ManagementPrice: Bought3
Profit. The financial department for the company in Problems 87 and 89 established the following cost function for producing and selling x million memory chips:
(A) Write a profit function for producing and selling x million memory chips and indicate its domain.
(B) Complete Table 12, computing profits to the nearest million dollars.
(C) Plot the points in part (B) and sketch a graph of the profit function using these points.
Problem 87
Price demand. A company manufactures memory chips for microcomputers. Its marketing research department, using statistical techniques, collected the data shown in Table 8, where p is the wholesale price per chip at which x million chips can be sold. Using special analytical techniques (regression analysis), an analyst produced the following price demand function to model the data:
(A) Plot the data points in Table 8, and sketch a graph of the price demand function in the same coordinate system.
(B) What would be the estimated price per chip for a demand of 7 million chips? For a demand of 11 million chips?
