Question

Determine what type of model best fits the given situation: Farmer Joe has 1,000 bushels of corn to sell. Presently the market price for corn is $5.00 a bushel. He expects the market price to increase by $0.15 per week. For each week he waits to sell, he loses ten bushels due to spoilage. A. none of these B. exponential C. quadratic D. linear

Answer 1

C. quadratic is the answer

Answer 2

The correct option is;

C. Quadratic

Explanation:

The given information are;

The quantity of corn Farmer Joe has to sell = 1,000 bushels

The present market price for corn = $5.00 a bushel

The amount by which he expects the market price to rise per week =$0.15

The number of bushels lost to spoilage per week = 10

Therefore, we have;

The value of the corn = Amount of corn left × Price of corn

The price of the corn per bushel with time = 5 + 0.15×t

The amount of corn left = 1000 - 10×t

Where;

t = Time in minutes

Therefore, the total value of corn = (1000 - 10×t)×(5 + 0.15×t) = -1.5·t²+100·t+5000 which is a quadratic model.

Therefore, the correct option is a quadratic model.