Group Project Math

Group 4

Annual profit in thousands of dollars is given by the function, P(x) = 5000 - (1000/(x-1)), where x is the number of items sold in thousands, x > 1.

1. Describe the meaning of the number 5000 in the formula?

I think the number 5000 in the formula is the maximum profit value. By Lajuan Offer

2. Describe the meaning of the number 1 in the formula?

The 1 could be the limit of the annual profit; it could also determine the rise of increase in the annual profit. By Lajuan Offer

3. Find the profit for 5 different values of x?

P(x) = 5000 - (1000/(x-1)), find the profit for 5 different

values of x originally 5000-(1000/x)

5000-(1000/2) =4500

(5000-500=4500)

5000-(1000/4) =4750

(5000-250=4750)

5000-(1000/8) = 4875

(5000-125=4875)

5000-(1000/10) =4900

(5000-100=4900)

5000-(1000/16) = 4937.5

(5000-62.5=4937.5)

5000-(1000/20)4950

(5000-50=4950)

5000-1000/25=4960

(5000-40=4960)

5000-(1000/50=4980

(5000-20=4980)

I used more than 5 to see if I understood this better. I

took the 1000 and divided it by x and Then I took that number and subtracted it

from 5000 and then I got the =’s. –James Wiegreff

4. Graph the profit function over its given domain; use the 5 values calculated in part 3 to

construct the graph and connect these points with a smooth curve in Excel or

another graphing utility. Insert the graph in a Word file and attach the

graph in a Word file to the class DB thread?

5. will this profit function have a maximum, if so, what is it?

There is no maximum because no maximum was set. Now if there was a maximum set then there would be a maximum. So say the company set a 500,000 dollar limit. – James Wiegreff

6. What steps should the company take to prepare for your answer to part 5?

The company should come up with a maximum profit number. Then they would be able to prepare the maximum number. –James Wiegreff