Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Get immediate and reliable answers to your questions from a community of experienced experts on our platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.
Sagot :
Let's break down the problem step-by-step and address each part of it.
### Step 1: Creating the Revenue Function
First, we define the total revenue \( R \) with respect to \( x \), where \( x \) is the number of \$1.00 increases to the ticket price:
- Initial number of daily riders: 2000
- Decrease in riders per \$1.00 increase: 100
- Initial ticket cost: \$5.00
- Revenue target: \$12,000
Thus, we express the revenue function as:
[tex]\[ R(x) = (\text{initial riders} - \text{decrease per increase} \cdot x) \cdot (\text{initial cost} + x) \][/tex]
[tex]\[ R(x) = (2000 - 100x) \cdot (5 + x) \][/tex]
### Step 2: Setting Up the Inequality
We want the revenue to be at least \$12,000. Therefore, we set up the inequality:
[tex]\[ (2000 - 100x)(5 + x) \geq 12000 \][/tex]
### Step 3: Simplifying the Inequality
To solve for \( x \), we first expand and simplify the inequality:
[tex]\[ (2000 - 100x)(5 + x) \geq 12000 \][/tex]
Expanding the left-hand side:
[tex]\[ 100x^2 - 1500x - 10000 \geq 12000 \][/tex]
Rewriting it in standard quadratic form gives us:
[tex]\[ 100x^2 - 1500x - 22000 \geq 0 \][/tex]
### Step 4: Solving the Quadratic Equation
Next, we solve the quadratic equation \( 100x^2 - 1500x - 22000 = 0 \):
The quadratic formula is given by:
[tex]\[ x = \frac{-b \pm \sqrt{b^2 - 4ac}}{2a} \][/tex]
Plugging in the values \( a = 100 \), \( b = -1500 \), and \( c = -22000 \):
[tex]\[ \Delta = b^2 - 4ac = (-1500)^2 - 4 \cdot 100 \cdot (-22000) = 11050000 \][/tex]
The roots are:
[tex]\[ x = \frac{1500 \pm \sqrt{11050000}}{200} \][/tex]
This yields two solutions:
[tex]\[ x_1 = 24.12 \][/tex]
[tex]\[ x_2 = -9.12 \][/tex]
Since \( x \) represents the number of \$1.00 increases, it must be non-negative. Therefore, we discard \( x = -9.12 \) as it is not feasible, leaving \( x = 24.12 \).
### Step 5: Maximum Profit and Ticket Price for Maximum Revenue
To find the maximum revenue, we use the vertex form of the quadratic equation. The vertex \( x = -\frac{b}{2a} \) for the quadratic function \( 100x^2 - 1500x - 22000 \):
[tex]\[ x = \frac{1500}{2 \cdot 100} = 7.5 \][/tex]
Plugging \( x = 7.5 \) into the revenue function:
[tex]\[ R(7.5) = (2000 - 100 \cdot 7.5)(5 + 7.5) = 1250 \times 12.5 = 15625 \][/tex]
### Step 6: Summary of Results
Based on the calculations:
1. The correct inequality to represent the values of \( x \) that would allow the carpool service to have revenue of at least \$12,000 is:
[tex]\[ 100x^2 - 1500x - 22000 \geq 0 \][/tex]
2. The maximum profit the company can make is \( \$15625.00 \).
3. The price of a one-way ticket that will maximize revenue is \( \$7.50 \).
### Incorrect Statements
The statements suggesting a maximum profit of \[tex]$4125.00 and a one-way ticket price of \$[/tex]12.50 for maximum revenue are incorrect.
### Final Selection of Correct Statements
- The maximum profit the company can make is \$15,625.00.
- The price of a one-way ticket that will maximize revenue is \$7.50.
These are the correct conclusions drawn from the problem statement and the subsequent mathematical analysis.
### Step 1: Creating the Revenue Function
First, we define the total revenue \( R \) with respect to \( x \), where \( x \) is the number of \$1.00 increases to the ticket price:
- Initial number of daily riders: 2000
- Decrease in riders per \$1.00 increase: 100
- Initial ticket cost: \$5.00
- Revenue target: \$12,000
Thus, we express the revenue function as:
[tex]\[ R(x) = (\text{initial riders} - \text{decrease per increase} \cdot x) \cdot (\text{initial cost} + x) \][/tex]
[tex]\[ R(x) = (2000 - 100x) \cdot (5 + x) \][/tex]
### Step 2: Setting Up the Inequality
We want the revenue to be at least \$12,000. Therefore, we set up the inequality:
[tex]\[ (2000 - 100x)(5 + x) \geq 12000 \][/tex]
### Step 3: Simplifying the Inequality
To solve for \( x \), we first expand and simplify the inequality:
[tex]\[ (2000 - 100x)(5 + x) \geq 12000 \][/tex]
Expanding the left-hand side:
[tex]\[ 100x^2 - 1500x - 10000 \geq 12000 \][/tex]
Rewriting it in standard quadratic form gives us:
[tex]\[ 100x^2 - 1500x - 22000 \geq 0 \][/tex]
### Step 4: Solving the Quadratic Equation
Next, we solve the quadratic equation \( 100x^2 - 1500x - 22000 = 0 \):
The quadratic formula is given by:
[tex]\[ x = \frac{-b \pm \sqrt{b^2 - 4ac}}{2a} \][/tex]
Plugging in the values \( a = 100 \), \( b = -1500 \), and \( c = -22000 \):
[tex]\[ \Delta = b^2 - 4ac = (-1500)^2 - 4 \cdot 100 \cdot (-22000) = 11050000 \][/tex]
The roots are:
[tex]\[ x = \frac{1500 \pm \sqrt{11050000}}{200} \][/tex]
This yields two solutions:
[tex]\[ x_1 = 24.12 \][/tex]
[tex]\[ x_2 = -9.12 \][/tex]
Since \( x \) represents the number of \$1.00 increases, it must be non-negative. Therefore, we discard \( x = -9.12 \) as it is not feasible, leaving \( x = 24.12 \).
### Step 5: Maximum Profit and Ticket Price for Maximum Revenue
To find the maximum revenue, we use the vertex form of the quadratic equation. The vertex \( x = -\frac{b}{2a} \) for the quadratic function \( 100x^2 - 1500x - 22000 \):
[tex]\[ x = \frac{1500}{2 \cdot 100} = 7.5 \][/tex]
Plugging \( x = 7.5 \) into the revenue function:
[tex]\[ R(7.5) = (2000 - 100 \cdot 7.5)(5 + 7.5) = 1250 \times 12.5 = 15625 \][/tex]
### Step 6: Summary of Results
Based on the calculations:
1. The correct inequality to represent the values of \( x \) that would allow the carpool service to have revenue of at least \$12,000 is:
[tex]\[ 100x^2 - 1500x - 22000 \geq 0 \][/tex]
2. The maximum profit the company can make is \( \$15625.00 \).
3. The price of a one-way ticket that will maximize revenue is \( \$7.50 \).
### Incorrect Statements
The statements suggesting a maximum profit of \[tex]$4125.00 and a one-way ticket price of \$[/tex]12.50 for maximum revenue are incorrect.
### Final Selection of Correct Statements
- The maximum profit the company can make is \$15,625.00.
- The price of a one-way ticket that will maximize revenue is \$7.50.
These are the correct conclusions drawn from the problem statement and the subsequent mathematical analysis.
Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.