Internet Advertising Several months ago, John O'Hagan investigated the effect on the popularity of OHaganBooks.com of placing banner ads at well-known Internet portals. The following model was obtained from available data:
a. John O’Hagan is considering increasing expenditure on banner ads from the current level of $5,000 to $6,000 per month. What will be the resulting effect on website popularity?
b. According to the model, would the website popularity continue to grow at the same rate if he continued to raise expenditure on advertising $1,000 each month? Explain.
c. Does this model give a reasonable prediction of traffic at expenditures larger than $8,500 per month? Why or why not?
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Chapter 1 Solutions
Finite Mathematics
- Redo Exercise 5, assuming that the house blend contains 300 grams of Colombian beans, 50 grams of Kenyan beans, and 150 grams of French roast beans and the gourmet blend contains 100 grams of Colombian beans, 350 grams of Kenyan beans, and 50 grams of French roast beans. This time the merchant has on hand 30 kilograms of Colombian beans, 15 kilograms of Kenyan beans, and 15 kilograms of French roast beans. Suppose one bag of the house blend produces a profit of $0.50, one bag of the special blend produces a profit of $1.50, and one bag of the gourmet blend produces a profit of $2.00. How many bags of each type should the merchant prepare if he wants to use up all of the beans and maximize his profit? What is the maximum profit?arrow_forwardFor the following exercises, consider this scenario: The profit of a company decreased steadily overa ten-year spam.The following ordered pairs shows dollars and the number of units sold in hundreds and the profit in thousands ofover the ten-year span, (number of units sold, profit) for specific recorded years: (46,600),(48,550),(50,505),(52,540),(54,495). Use linear regression to determine a function Pwhere the profit in thousands of dollars depends onthe number of units sold in hundreds.arrow_forward
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