Quiz04 - b Using your function from part a generate a...

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Math 115 Fall 2007 Quiz #4 Sections 2.4 to 26 Name _______________________________________ RUID# _______________________ Recitation Section: 14 | 15 | 16 All work must be shown in the problems below in order to receive full credit. Credit may not be given for unsupported work. No calculators may be used on this quiz. #1 (9 points): Due to recent demand, the Rutgers football team is considering raising ticket prices to pay for stadium upgrades. They are currently selling 24,500 tickets per game at $15 per person (obviously a very simplified example). However, with every $5 increase in ticket price, attendance will decrease by 3,500 so they need to find an optimal ticket price that will maximize the gross revenue per game. a) Find a linear function s(x) showing the number of tickets sold given a price x
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Unformatted text preview: b) Using your function from part a, generate a function r(x) that shows the REVENUE generated for a given ticket price x (i.e. the price * # tickets sold) c) Finally, find the ticket price that maximizes revenue, using your function r(x) from part b. Be careful – you want the optimal ticket price, not number of tickets. d) According to your model, at what price would attendance THEORETICALLY go to zero? (obviously this model would break down at extreme values for x) #2 (6 points) A graph of f(x) is given to the left. Sketch the graph of ) 1 ( 2 ) (-⋅ = x f x g Assume that the entire function f(x) is shown in the given graph and that all bolded points are on integer values....
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This note was uploaded on 03/08/2009 for the course 640 115 taught by Professor Wey during the Fall '08 term at Rutgers.

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Quiz04 - b Using your function from part a generate a...

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