10. A mathematical consultant determines that the proportion of people who will have responded to the advertisement of a

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10 A Mathematical Consultant Determines That The Proportion Of People Who Will Have Responded To The Advertisement Of A 1 (33.26 KiB) Viewed 28 times

10. A mathematical consultant determines that the proportion of people who will have responded to the advertisement of a new product after it has been marketed for t days is given by f(t) = 0.7(1-e02). The area covered by the advertisement contains 10 million potential customers, and each response to the advertisement results in revenue to the company of $0.70, excluding the cost of advertising. The advertising costs of $30,000 to produce and a further $ 5000 per day to run. (K/T/A/C) 18 a. Determine lim f(t), and interpret the result. 11 b. What percent of potential customers have respond after seven days of advertising? 11 c. Write the function P(t) that represents the average profit after t days of advertising. What is the average profit after seven days? /3 D. For how many full days should the advertising campaign be run in order to maximize the average profit? Assume an advertising budget of $200,000 13