Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.

Get a Professional Answer

Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.

100% Satisfaction Guarantee

Rate the answer you receive.

Ask Ray Atkinson Your Own Question

Ray Atkinson, Graduate Student

Category: Homework

Satisfied Customers: 1800

Experience: Inner-city high school substitute teacher. Degrees in mathemetics, accounting, and education. Years and years of tutoring.

29937297

Type Your Homework Question Here...

Ray Atkinson is online now

Use the following information to complete each item:
The Candy

Customer Question

Use the following information to complete each item: The Candy Shack sells fine chocolate candies by the box. The daily revenue R achieved by selling x boxes of candy is modeled by R(x) = 9.5x – 0.04x². The daily cost C of selling x boxes of candy is C(x) = 1.25x + 250.

1. In your own words, explain the meaning of the terms revenue, cost, and profit as they relate to The Candy Shack. Provide examples of each and describe how each is calculated.

2. Write an equation to represent profit, P(x) earned by The Candy Shack for selling x boxes of chocolate.

3. Complete the following table. Explain the significance of each value calculated. Number of Boxes Sold Profit 1 50 100 200 250

4. What is the profit for selling 300 boxes of chocolates in a day? Explain the significance of this value.

5. How many boxes of candy must The Candy Shack sell to maximize profit? What is the maximum profit?

The revenue is the amount of money that is made by selling the candy. Cost is the amount of money that is spent to make and market the candy. Profit is the amount of money left over form the revenue after the cost is spent. P(x) = -0.04x² + 9.5x - (1.25x + 250) = -0.04x² + 8.25x - 250

Ray Atkinson :

(still working)

Ray Atkinson :

1, $-241.79 50, $62.50 100, 175 200, -200

250, -687.50

Ray Atkinson :

300 a day would be a loss of $1375

JACUSTOMER-66ydjasu- :

Hello Ray, the formula makes sense since it is supposed to be a quadratic equation but my biggest challenge was with the table and the profit made from the number of boxes sold. I did get the same answer as you did, it didn't seem to make sense but I guess I was right.

Ray Atkinson :

Hmmm. Let me double check those numbers.

Ray Atkinson :

8.25 / 0.08 = 103.125. This is the max for this problem. I would recommend that you check with your instructor that this is not a typo. I think there is something wrong with the problem.

$175.391 is the max as the problem is given, but I believe there is a mistake here. Check with your instructor and get back to me. I want to give you right info for the right problem.

The fact that the problem asked about 300 chocolates does not make sense.

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.

JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.

Web sites like justanswer.com/legal ...leave nothing to chance.

Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.

Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.

I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.Freshfield, Liverpool, UK

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.GPHesperia, CA

I couldn't be more satisfied! This is the site I will always come to when I need a second opinion.JustinKernersville, NC

Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. EstherWoodstock, NY

Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. RobinElkton, Maryland

He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here.DianeDallas, TX