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A coffee shop currently sells 470 lattes a day at $3.00 each. They recently tried raising the by price by $0.25 a latte, and found that they sold 50 less lattes a day. a) Assume that the number of lattes they sell in a day, N , is linearly related to the sale price, p (in dollars). Find an equation for N as a function of p. N(p) %3D b) Revenue (the amount of money the store brings in before costs) can be found by multiplying the cost per cup times the number of cups sold. Again using p as the sales price, use your equation from above to write an equation for the revenue, R as a function of p . R(p) = %3D c) The store wants to maximize their revenue (make as much money as possible). Find the value of p that will maximize the revenue (round to the nearest cent).

A coffee shop currently sells 470 lattes a day at $3.00 each. They recently tried raising the by price by $0.25 a latte, and found that they sold 50 less lattes a day. a) Assume that the number of lattes they sell in a day, N , is linearly related to the sale price, p (in dollars). Find an equation for N as a function of p. N(p) %3D b) Revenue (the amount of money the store brings in before costs) can be found by multiplying the cost per cup times the number of cups sold. Again using p as the sales price, use your equation from above to write an equation for the revenue, R as a function of p . R(p) = %3D c) The store wants to maximize their revenue (make as much money as possible). Find the value of p that will maximize the revenue (round to the nearest cent).

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter1: Expressions And Functions
Section1.5: Descriptive Modeling And Accuracy
Problem 3BGP
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ashboard Welcome to MYTCC Content -> A bb.tulsacc.edu/ultra/courses/_91175216 1/cl/outline baschools.org bookmarks B Broken Arrow Public Sc. ps My Drive . MYTCC Content Canvas Thesaurus.com A coffee shop currently sells 470 lattes a day at $3.00 each. They recently tried raising the by price by $0.25 a latte, and found that they sold 50 less lattes a day. a) Assume that the number of lattes they sell in a day, N , is linearly related to the sale price, p (in dollars). Find an equation for as a function of p. N(p) b) Revenue (the amount of money the store brings in before costs) can be found by multiplying the cost per cup times the number of cups sold. Again using p as the sales price, use your equation from above to write an equation for the revenue, R as a function of p . R(p) : c) The store wants to maximize their revenue (make as much money as possible). Find the value of p that will maximize the revenue (round to the nearest cent).
Transcribed Image Text:ashboard Welcome to MYTCC Content -> A bb.tulsacc.edu/ultra/courses/_91175216 1/cl/outline baschools.org bookmarks B Broken Arrow Public Sc. ps My Drive . MYTCC Content Canvas Thesaurus.com A coffee shop currently sells 470 lattes a day at $3.00 each. They recently tried raising the by price by $0.25 a latte, and found that they sold 50 less lattes a day. a) Assume that the number of lattes they sell in a day, N , is linearly related to the sale price, p (in dollars). Find an equation for as a function of p. N(p) b) Revenue (the amount of money the store brings in before costs) can be found by multiplying the cost per cup times the number of cups sold. Again using p as the sales price, use your equation from above to write an equation for the revenue, R as a function of p . R(p) : c) The store wants to maximize their revenue (make as much money as possible). Find the value of p that will maximize the revenue (round to the nearest cent).
board a Welcome to MYTCC Content A bb.tulsacc.edu/ultra/courses/_91175216 1/cl/outline B. baschools.org bookmarks 4 My Drive MYTCC Content T Thesaurus.com B Broken Arrow Public Sc. Canvas c) The store wants to maximize their revenue (make as much money as possible). Find the value of p that will maximize the revenue (round to the nearest cent). which will give a maximum revenue of $ Question Help: DVideo M Message instructor Z Calculator Submit Question +
Transcribed Image Text:board a Welcome to MYTCC Content A bb.tulsacc.edu/ultra/courses/_91175216 1/cl/outline B. baschools.org bookmarks 4 My Drive MYTCC Content T Thesaurus.com B Broken Arrow Public Sc. Canvas c) The store wants to maximize their revenue (make as much money as possible). Find the value of p that will maximize the revenue (round to the nearest cent). which will give a maximum revenue of $ Question Help: DVideo M Message instructor Z Calculator Submit Question +
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