Question
Write a 250 - 400 word essay (about 3 - 4 paragraphs) explaining how to solve the following problem: The John Deere Company has found
Write a 250 - 400 word essay (about 3 - 4 paragraphs) explaining how to solve the following problem:
The John Deere Company has found that the revenue from sales of heavy-duty tractors is a function of the unit price p that it charges.If the revenue R is R(p) = 0.5p2 + 1900p , what unit price p should be charged to maximize revenue?What is the maximum revenue? What recommendations would you give the John Deere Company?
Pretend you are explaining this to someone who has not taken a math class in several years. Be sure to include the following in your explanation:
what the p and R represent,
the actual value of the maximum revenue and the price needed to achieve this value, and
recommendations you would give the John Deere Company (Hint: How can the data you calculated be used to benefit the company? For example, why shouldnt the company charge $2000 or more for each tractor?)
Use proper English and full sentences with ideas separated into paragraphs. Spelling and grammar count!
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