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Program Level Assessment Fall 2016 Job opportunity surveys have consistently shown a high demand for those who can use mathematics to model complex...

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Program Level Assessment Fall 2016 Job opportunity surveys have consistently shown a high demand for those who can use mathematics to model complex processes and make informed predictions of the future. A student should be able to demonstrate his or her level of sophistication with respect to the key, in-demand skills of communication, quantitative literacy, and critical thinking. Assignment: Determine the maximum revenue for the given companies. Maximizing Revenue ---- Part I The marketing department at Gadgets Galore has found that when certain iPods are sold at a price of p dollars per unit, the revenue R (in dollars) as a function of the price p can be demonstrated by the function given in the graph below. Use the above graph to answer the questions stated in Part I of the Response Sheet. The Response Sheet was posted with this document.
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Program Level Assessment Fall 2016 Response Sheet Instructions: Complete your work in the space below. 1) Be sure to complete both pages 2) Save the document in Wor. When you are ready to submit your work online, 1) Go to your eCampus classroom 2) Click on Program Level Assessment (left navigation panel) 3) Click on PLO Submission Link 4) Scroll down to ATTACH FILE 5) Click on Browse My Computer. Choose your Response Sheet file 6) Then you must scroll to the bottom of that page and click Submit PART I: Maximizing Revenue (Quantitative Literacy) 1. Interpretation : Using complete sentences, explain the information represented by the graph. Place cursor here to begin typing your response. 2. Representation and Calculations : Find the approximate revenue when the price of the item is… Place cursor on the line to type your response. a. p =$20 R = ______________ b. p =$40 R = ______________ c. p =$60 R = ______________ d. p =$80 R = ______________ e. p =$100 R = ______________ f. p =$120 R = ______________ 3. Application and analysis : Make a judgment and draw appropriate conclusions based on the quantitative analysis of the data represented in the given graph. (Hint: Does the data lead you to the maximum point on the graph? How does knowing this projected maximum point help this company?) Write at least two or three sentences to explain your answer.
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Place cursor here to begin typing your response. 4. Assumptions : What assumptions did you make in your estimate of the maximum revenue and the needed price to charge to reach this maximum revenue? (Hint: When looking at the graph, what did you assume about the data shown?) Write at least two or three sentences to explain your answer. Place cursor here to begin typing your response.
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