Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An artisan makes hand - crafted painted benches to sell at a craft mall. Her weekly revenue and costs ( not including labor ) are

An artisan makes hand-crafted painted benches to sell at a craft mall. Her weekly revenue and costs (not including labor) are given in the table.
Weekly Revenue and Costs for Hand-crafted Benches
(a) Find a quadratic model for revenue. (Round all numerical values to three decimal places.)
R(n)=-10.857n2+91.714n, dollars
Find a cubic model for cost. (Round all numerical values to three decimal places.)
C(n)=
dollars
Using the previous models for revenue and cost, find a cubic model for profit, P.(Round all numerical values to three decimal places.)
P(n)=
dollars
(b) Write the derivative formula for profit.
P'(n)=
per bench
(c) Find and interpret the rates of change of profit when the artisan sells 5,9, and 10 benches, respectively. (Round your answers to two decimal places.)
P'(5)=q
per bench
When the artisan makes 5 benches, the profit is
by $
| per bench.
P'(9)=$
per bench
When the artisan makes 9 benches, the profit is
|by $[,] per bench.
P'(10)=$
per bench
When the artisan makes 10 benches, the profit is --- Select--vv by $ per bench.
(d) Use the information in part (c) to determine the number of benches the artisan should produce each week for maximum profit.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For MBAs

Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally

3rd Edition

0978727932, 978-0978727932

More Books

Students also viewed these Accounting questions

Question

Explain why needs motivate our behavior.

Answered: 1 week ago