Assignment:
Annual profit in thousands of dollars is given by the function, P(x) = -.1x2 + 50x - 300, where x is the number of items sold, x - 0.
Q1. Describe the meaning of the number -.1 in the formula, in terms of its meaning in relation to the profit.
Q2. Describe the meaning of the number -300 in the formula, in terms of its meaning in relation to the profit.
Q3. Find the profit for 5 different values of x
Q4. Graph the profit function over its given domain; use the 5 values calculated in part 3 to construct the graph and connect these points with a smooth curve In Excel or another graphing utility. Insert the graph in a Word file and attach the graph in a Word file to the class DB thread.
Q5. Will this profit function have a maximum, if so, what is it?
Q6. What steps should the company take to prepare for your answer to part 5?
Provide complete and step by step solution for the question and show calculations and use formulas.