Macky Swoboda

2-1 #90

Problem
A. Using the price-demand function, P(x)=2,000-60x 1 x 25 write the companys revenue function and indicate its domain. B. Create a table computing revenues to the nearest thousand dollars. C. Plots the points from part (B) and sketch a graph of the revenue function using these parts. Choose thousands for the units on the horizontal and vertical axes.

A.
Since the price-demand function is p(x)=200060x, you have to find the revenue function. The revenue function is basically the same (2000-60x) except the quantity added (x) needs to added to the final equation. So the revenue function is R(x)=(2000-60x)x. The domain stays the same at 1x25

B.
X (Thousands) 1 5 10 R(x) (Thousand $) 1,940 8,500 14,000

15 20
25

16,500 16,000
12,500

By using the equation P(x)=2,000-60x I can then solve the rest of the problem and finish the graph indicating the revenues to the nearest thousand dollars. 1= P(x)=(2000-60(1)(1)=1940 5= P(x)=(2000-60(5)(5) = 8500 10= P(x)=(2000-60(10)(10) = 14000 15= P(x)=(2000-60(15)(15) = 16500 20= P(x)=(2000-60(20)(20) = 16000 25= P(x)=(2000-60(25)(25) = 12500

C.
This graph represents the decline in revenue.
18000 16000

14000
12000 Reveune 10000 8000 6000 4000 2000 0 1 5 10 15 20 25

Revenue

What significant mathematical ideas are highlighted in your problem and where do you make use of them?
A very important idea that the problem presents is the use of functions. Since the problem wants you to solve for finding the function then do the rest of the problem including the table and graph, Its proven to be relatively important. Also knowing the domain is very useful. Although the problem already gave me the domain 1x25 it is still useful to know when and how to sole and use it. Finally the graph is important for function and the domain. Unfortunately the graph I used was not the best representation of the revenue, I still couldnt have been able to find the revenue in the problem.

How does this problem relate to your major, future career, or life after college?
As a business marketing major, this problem relates to me because when I am trying to find what social groups are creating different types of revenue, Ill be able to find that information. Although this specific problems is not necessarily the same as the previous scenario, there are multiple ways of using functions and domains that would be useful when finding that information. Also being able to look at and create graphs and tables to clarify the information and then presenting that information to the people in the marketing group of that specific job. Or maybe presenting it to a boss and show where we can obtain higher revenue and profits in specific locations or subcultures.