Answer Happy

For a particular flight from Dulles to SF, an airline uses wide-body jets with a capacity of 400 passengers. It costs the airline $4,000 plus $135 per passenger to operate each flight. Through experience the airline has discovered that if a ticket price is $T, then they can expect (400−0.68T) passengers to book the flight. To the nearest $5, for what value of the ticket price, T, will the airline's profit be maximized? (Notice that quantity is a function of price.) a) $360 b) $350 c) $390 d) $370
Cari's Gift Shop sells Hokie Bird figurines. The following table gives the gift shop's weekly revenue (in dollars) from selling these figurines if the price of a figurine is p dollars. Assume that the demand equation for the Hokie Bird figurines is linear. Open an Excel window and make a scatterplot of the data. Use the appearance of the scatterplot together with your knowledge of the problem to fit an appropriate trendline to the data. Use your model to estimate the weekly revenue from selling Hokie Bird figurines in Cari's Gift Shop if the price of each figurine is $9.50. NOTE: Numbers are rounded. a) $98.17 b) $104.60 c) $71.00 d) $306.43 e) $301.63