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Sagot :
Using the vertex of a quadratic equation, it is found that the company should charge each customer $15 per day to maximize revenue.
What is the vertex of a quadratic equation?
A quadratic equation is modeled by:
[tex]y = ax^2 + bx + c[/tex]
The vertex is given by:
[tex](x_v, y_v)[/tex]
In which:
- [tex]x_v = -\frac{b}{2a}[/tex]
- [tex]y_v = -\frac{b^2 - 4ac}{4a}[/tex]
Considering the coefficient a, we have that:
- If a < 0, the vertex is a maximum point.
- If a > 0, the vertex is a minimum point.
In this problem, the number of bikes rented per day is given by:
n(p) = 300 - 10p.
Hence, the revenue function is given by:
R(n) = p x n(p)
R(n) = 300p - 10p².
Which is a quadratic function with coefficients a = -10, b = 300. Hence, the price in dollars that will maximize the revenue is given by:
[tex]x_v = -\frac{300}{-20} = 15[/tex]
More can be learned about the vertex of a quadratic equation at https://brainly.com/question/24737967
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