Question

Pls help 19 a. 100 pts

Answer 1

$30 rental with $720 revenue per day

Explanation:

28 kayaks rented each for $25 per day.

Each $5 increase in price results in loss of 4 rentals.

It is:

4/5 = 0.8 rentals loss per $1 increase

The revenue is:

R = P*N, where P - rental price, N- number of kayaks rented

Let the change be x, then the revenue is:

R = (25 + x)(28 - 0.8x) = 700 + 8x - 0.8x²

This is a quadratic function. It has its maximum at vertex, which is determined as x = - b/2a.

The vertex is:

x = - 8 / (-0.8*2) = 5

The maximum revenue at this value is:

R = (25 + 5)(28 - 4) = 30*24 = 720

Answer 2

• $30 rental with $720 revenue per day

Explanation:

28 kayaks rented each for $25 per day.

Each $5 increase in price results in loss of 4 rentals.

It is:

• 4/5 = 0.8 rentals loss per $1 increase

The revenue is:

• R = P*N, where P - rental price, N- number of kayaks rented

Let the change be x, then the revenue is:

• R = (25 + x)(28 - 0.8x) = 700 + 8x - 0.8x²

This is a quadratic function. It has its maximum at vertex, which is determined as x = - b/2a.

The vertex is:

• x = - 8 / (-0.8*2) = 5

The maximum revenue at this value is:

• R = (25 + 5)(28 - 4) = 30*24 = 720