standard_description: Use data from a random sample to draw inferences about a population with an unknown characteristic of interest. Generate multiple samples (or simulated samples) of the same size to gauge the variation in estimates or predictions. For example, estimate the mean word length in a book by randomly sampling words from the book; predict the winner of a school election based on randomly sampled survey data. Gauge how far off the estimate or prediction might be.
problem_activity: A bakery sells small cakes for
$${ {{$1}}0}$$
each. At this price, the bakery typically sells
$${100}$$
cakes per week.
The owner of the bakery wants to increase the price of the cake in order to maximize revenue. She determines that for each
$${{$1}}$$
increase in price, she sells
$$5$$
fewer cakes per week.
a.  Which function represents the weekly revenue,
$${R(x)}$$
, the owner of the bakery can expect to earn from the cakes based on
$$x$$
increases in price by
$${{$1}}$$
.
i.
$${R(x)}=(10-x)({100}+5x)$$
ii.
$${R(x)}=(10+x)({100}-5x)$$
iii.
$${R(x)}=(10-5x)({100}+x)$$
iv.
$${R(x)}=(10+5x)({100}-x)$$
b.  At what price will the owner of the bakery earn the maximum weekly revenue from sales of the small cakes?


aligns: no