Quadratics

Revenue Word Problem

 

Throughout this section, we will be learning how to apply our knowledge about quadratics to solve revenue problems (optimization included). Please look below to see a sample problem that we will be analyzing: 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ANALYSIS: *Please refer below to see the steps taken to solve the sample geometry problem given above.*

 

Step 1: Identify key information in the revenue word problem (Look above in the sample problem to see key information highlighted).

Step 2: Set up let-statements.

Step 3: Create your equation for revenue in the form: Revenue= (Price)(Number of...).

Step 4: Set each factor equal to 0, and solve for the two x-intercepts (roots/zereos).

Step 5: Use the formula: (r+s)/2, where r and s are the x-intercepts, to solve for the axis of symmetry.

Step 6: Substitute your axis of symmetry value into the equation, based on what you are solving for. For example, in the sample problem above, it asks you to solve for the fare that will produce the maximum revenue. Therefore, you only need to solve for the price bracket in the equation: Revenue= (Price)(Number of...).

 

 

                                                                                                     Video: Revenue Problems