Concept explainers
(a)
To find: The ticket price should the airline charge to achieve the greatest income on an average flight, based on the given estimates.
(a)
Answer to Problem 34E
Max at 97.50 dollars
Explanation of Solution
Given information: Business: An airline has been charging $140 per seat for a one-way flight. This flight has been averaging 110 passengers but can transport up to 180 passengers. The airline is considering a decrease in the price for a one-way ticket during the winter months. The airline estimates that for each $10 decrease in the ticket price, they will gain approximately 20 passengers per flight.
Calculation:
Income = (passengers) (price)
Vertex at:
Thus,
Max at 97.50 dollars
(b)
To find: The new ticket price, to maximize income. New estimates reveal that the increase in passengers per flight is closer to 10 for each $10 decrease in the original ticket price.
(b)
Answer to Problem 34E
Max at 125 dollars
Explanation of Solution
Given information: Business: An airline has been charging $140 per seat for a one-way flight. This flight has been averaging 110 passengers but can transport up to 180 passengers. The airline is considering a decrease in the price for a one-way ticket during the winter months. The airline estimates that for each $10 decrease in the ticket price, they will gain approximately 20 passengers per flight.
Calculation:
Income:
Maximum at:
Thus, max at 125 dollars.
Chapter 10 Solutions
Advanced Mathematical Concepts: Precalculus with Applications, Student Edition
Additional Math Textbook Solutions
University Calculus: Early Transcendentals (3rd Edition)
Single Variable Calculus: Early Transcendentals (2nd Edition) - Standalone book
Calculus: Early Transcendentals (3rd Edition)
Calculus: Early Transcendentals (2nd Edition)
Calculus and Its Applications (11th Edition)
- Calculus: Early TranscendentalsCalculusISBN:9781285741550Author:James StewartPublisher:Cengage LearningThomas' Calculus (14th Edition)CalculusISBN:9780134438986Author:Joel R. Hass, Christopher E. Heil, Maurice D. WeirPublisher:PEARSONCalculus: Early Transcendentals (3rd Edition)CalculusISBN:9780134763644Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric SchulzPublisher:PEARSON
- Calculus: Early TranscendentalsCalculusISBN:9781319050740Author:Jon Rogawski, Colin Adams, Robert FranzosaPublisher:W. H. FreemanCalculus: Early Transcendental FunctionsCalculusISBN:9781337552516Author:Ron Larson, Bruce H. EdwardsPublisher:Cengage Learning