Maximum Revenue When a management training company prices its seminar on management techniques at $400 per person,1,000 people will attend the seminar. The company estimates that for each $5 reduction in price, an additional 20 people will attend the seminar. Let 3 represent the number of $5 reductions. Use this information to answer questions 1-8 below. Question 1 0.5 pts Use the Maximum Revenue information above to answer this question. - 4'30 53 2 [Select] v - 1000 -l- 203: = [Select] v Question 2 0-5 pt; Use the Maximum Revenue information above to answer this question. We need to maximize [ 59'9"] V rwhich is the price per seminar ticket times the number of seminar tickets sold. Question 3 0.5 pts Use the Maximum Revenue information above to answer this question. Since price cannot be negative, we have s E Question 4 0.5 pts Use the Maximum Revenue information above to answer this question. A negative value of 1: would result in a price increase. Since the problem is stated in terms of price reductions, we must restrict it so that a: 2 Question 5 {3.5 pts Use the Maximum Revenue information above to answer this question. The revenue function Rim) has one critical number m = Question 15 0.5 pts Use the Maximum Revenue information above to answer this question. Since RE) is continuous. we can determine the absolute maximum by evaluating RE) at the endpoints and the critical number. After doing sor we see the maximum revenue occurs when a: = price reductions. Question 7 13.5 pts Use the Maximum Revenue information above to answer this question. The maximum revenue is $ . Round to the nearest cent. Question 8 0.5 pts Use the Maximum Revenue information above to answer this question. The price of a seminar ticket is that yields the maximum revenue is $ per seminar ticket. Round to the nearest dollar