This is question. I will kindly appreciate your help. It’s a modelling question.
A company made a particular type of children’s toy.
The annual profit made by the company is modelled by the equation
: P = 100- 6.25 (x-9)^2
Where P is the profit measured in thousands of pounds and x is the selling price of the toy in pounds.
A sketch of of P against X is in figure 1 (the sketch a downwards parabola, as if it were a negative quadratic, but is not in this case)
a) Using the model, explain why £15 is not a sensible selling price for the toy
B) given that the company made an annual profit of more than £80,000,
Find according to the model, the least possible selling price for the toy.
The company wishes to maximise its annual profit, state according to the model,
C) (i) the maximum possible annual profit
(ii) The selling price of the toy that maximises the annual profit.