QUADRATICS
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Revenue/Optimization Problems
Revenue problems are also another type of word problems we have learned in class. These problems include money and how much something costs. They include increases or decreaes in price and ncreases or decreases in people or objects. Optimization questions can be places into any word problem where the maximum or minimum have o be located. In this revenue problem the maximum revenue is to be found which means it is also an example of an optimization problem. Below are pictures including solutions and steps to thw following revenue/optimization problem:
The city transit system carries 24800 bus riders a day for a fare of $1.85. A survey indiactes that the number of riders will increase by 400 people for every $0.10 decrease in the fare. What fare will produce the maximum revenue?
Here is another revenue word problem with acurate solutions including let statements, a graph, therefore statements, and step by step procedures.
