A chain store manager has been told by the main office that daily profit, P, is related to the number of clerks working that day, x, according to the function P = -25x2 + 300x. What number of clerks will maximize the profit, and what is the maximum possible profit?
The assignment MUST contain the 2 steps below:
1. Write a two to three page paper that IS VERY SIMILAR to the PDF example attached, and be concise in your reasoning. In the body of your essay, please make sure to include:
o An explanation of the basic shape and location of the graph and what it tells us about the Profit function.
o Your solutions (it is a double question) to the above problem, making sure to include all mathematical work for both problems.
o Discuss how and why this is important for managers to know, and explain what could happen if the ideal conditions were not met.