Maximum Revenue When a management training company prices its seminar on management techniques at $400 per person, 1,000 people will attend the seminar. The company estimates that for each $5 reduction in price, an additional 20 people will attend the seminar. Let x represent the number of $5 reductions. Use this information to answer questions 1-8 below. Use the Maximum Revenue information above to answer this question. • 400 – 5æ [Select] [Select] • 1000+20x revenue number of seminar tickets sold price per seminar ticket
Maximum Revenue When a management training company prices its seminar on management techniques at $400 per person, 1,000 people will attend the seminar. The company estimates that for each $5 reduction in price, an additional 20 people will attend the seminar. Let x represent the number of $5 reductions. Use this information to answer questions 1-8 below. Use the Maximum Revenue information above to answer this question. • 400 – 5æ [Select] [Select] • 1000+20x revenue number of seminar tickets sold price per seminar ticket
ChapterP: Prerequisites
SectionP.6: The Rectangular Coordinate System And Graphs
Problem 7ECP
Related questions
Question
2) We need to maximize ▭, which is the price per seminar ticket times the number of seminar tickets sold.
3) Since price cannot be negative, we have x ≤___________
4) A negative value of x would result in a price increase.
Since the problem is stated in terms of price reductions, we must restrict x so that x ≥ _____.
Transcribed Image Text:Maximum Revenue
When a management training company prices its seminar on
management techniques at $400 per person, 1,000 people will
attend the seminar. The company estimates that for each $5
reduction in price, an additional 20 people will attend the seminar.
Let x represent the number of $5 reductions.
Use this information to answer questions 1-8 below.
![Use the Maximum Revenue information above to answer this
question.
• 400 – 5æ
[Select]
[Select]
•
1000+20x
revenue
number of seminar tickets sold
price per seminar ticket](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe002eb01-acea-4c61-9860-9d03e8331a29%2F045db73b-6c21-4963-86ba-70e7a062bfc3%2Fzxtkrwa_processed.png&w=3840&q=75)
Transcribed Image Text:Use the Maximum Revenue information above to answer this
question.
• 400 – 5æ
[Select]
[Select]
•
1000+20x
revenue
number of seminar tickets sold
price per seminar ticket
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University