1. You have a home business selling designer necklaces. You have done some market research, which shows that at a price of $40 you can sell
500 per week, and at a price of $60 you can sell 400 per week. Assuming
that the relationship between price and quantity sold is linear, find the
price that maximizes revenue. You must use methods that we developed
and practiced in the course. You will be graded not only on your answer
but on the clarity of your presentation.

The price that maximizes the profits from the sale of the product is $60.

Step-by-step explanation:

Since selling necklaces at $ 40 allows a total amount of 500 sales per week, while a price of $ 60 allows 400 sales at the same time, the following calculations must be made to determine the price that maximizes sales performance:

40 x 500 = $ 20,000

60 x 400 = $ 24,000

50 x 450 = $ 22,500

55 x 425 = $ 23,375

58 x 410 = $ 23,780

59 x 405 = $ 23,895

As can be seen from the calculations developed, the price that maximizes the profits from the sale of the product is $60.

step-by-step explanation:

i found the life tables for the year 2012. 

life table of males at age 30. probability of dying between ages x and x+1

total population:  

29–30 . . . . . . . . . . . . 0.001030

30–31 . . . . . . . . . . . . 0.001061

males:  

29–30 . . . . . . . . . . . . 0.001420

30–31 . . . . . . . . . . . . 0.001448

white population

29–30 . . . . . . . . . . . . 0.001005

30–31 . . . . . . . . . . . . 0.001037

white males

29–30 . . . . . . . . . . . . 0.001372

30–31 . . . . . . . . . . . . 0.001399

non hispanic white population

29–30 . . . . . . . . . . . . 0.001083

30–31 . . . . . . . . . . . . 0.001116

non hispanic white males

29–30 . . . . . . . . . . . . 0.001477

30–31 . . . . . . . . . . . . 0.001503

jacob, non hispanic white male. 30 years old.

probability that jacob lives to be 30 years old. 

since the given probabilities are probabilities of dying, i think we simply subtract it from 1 to get the probability of living. we will use the probability of non hispanic white male.

                                          probability of living to be 30 y.o.

29 - 30 : 1 - 0.001477 = 0.998523

30 - 31 : 1 - 0.001503 = 0.998497

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step-by-step explanation: