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A street vendor constructs the table below on the basis of sales data. (Note: Consumer expenditure and revenue are terms for the same thing from
A street vendor constructs the table below on the basis of sales data. (Note: Consumer expenditure and revenue are terms for the same thing from different perspectives. Consumer expenditure is the amount of money that consumers spend on a product, and revenue is the amount of money that businesses take in by selling the product.) Sales of Roses, Given the Price per Dozen P e Sales (dollars) (dozen roses) 20 169 25 159 (a) Find a quadratic function for the model of the data that gives the quantity sold at x dollars, data from 20 S x S 32. (Round all numerical values to three decimal places.) 500 \" 0.7l5x2 -- 31.509): 176.615 V (b) Find a function for the model for consumer expenditure (revenue for the vendor), where x is the price in dollars, data from 20 S x S 32. (Round all numerical values to three decimal places.) Rm z 0.715x3 31.5091:2 176.615x V (c) What price should the street vendor charge to maximize consumer expenditure? (Round your answer to two decimal places.) $ 26.24 v (d) If each dozen roses costs the vendor $15, what price should he charge to maximize his profit? (Round your answer to two decimal places.) 1; 25.93 x
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