Word Problem • Raul owns his own social bowling club called Operation Bowling Thunder which boasts a daily average of 400 customers. To bowl at Raul’s elite bowling center, Raul currently charges a flat rate of $15 per person. Recently, business has been slow and Raul is trying to figure out a way to draw in more money. Elaine is in charge of marketing and found in a recent survey that for every dollar Raul lowers the price, 50 more people will come to the bowling alley. How much should Raul charge in order to maximize revenue? How to Approach Word Problems 1. 2. 3. 4. 5. 6. Eliminate extra information. Extract main question. Simplify key ideas. Quantify key ideas. Find equation for main question. Solve. Eliminate Extra Information • Raul owns his own social bowling club called Operation Bowling Thunder which boasts a daily average of 400 customers. To bowl at Raul’s elite bowling center, Raul currently charges a flat rate of $15 per person. Recently, business has been slow and Raul is trying to figure out a way to draw in more money. Elaine is in charge of marketing and found in a recent survey that for every dollar Raul lowers the price, 50 more people will come to the bowling alley per day. How much should Raul charge in order to maximize revenue? Extract Main Idea • How much should Raul charge in order to maximize revenue? • Maximize Revenue. • What is Revenue? • Revenue = cost per person * number of people Simplify key ideas. his own social bowlingevery club called •Raul 400owns people bowl currently day Operation Bowling Thunder which boasts a daily • Raul charges $15 per person average of 400 customers. To bowl at Raul’s elite •bowling For every $1Raul lesscurrently Raul charges, more center, charges50 a flat rate of $12 people per person. will bowl. Recently, business has been slow and Raul is trying to figure out a way to draw in more money. Elaine is in charge of marketing and found in a recent survey that for every dollar Raul lowers the price, 50 more people will come to the bowling alley per day. How much should Raul charge in order to maximize revenue? Quantify Key Ideas • 400 people bowl currently every day X=0, y=400 (change in cost vs. number of people) • Raul charges $15 per person $15 * 400 people = $6000 • For every $1 less Raul charges, 50 more people will bowl $14 * 450 = $6300 $13 * 500 = $6500 Find Equation for Main Question • Maximize Revenue • Revenue = Cost per Person * Number of people • Cost per Person (15 – x) • Number of People (400 + 50 * x) • Equation: y = (15 – x) * (400 + 50 * x) Solve • Graph : y = (15 – x) * (400 + 50 * x) • Where are the zeroes? x = 15 and x = -8 Max is halfway between two zeroes for a parabola (15-8)/2 = 3.5 • Max is when x = 3.5 or Raul charges $11.5 • Y = $(15 – 3.5) * (400 + 50 * 3.5) = $(11.5) * (575) = $6612.5 HAS-CED.A.2, HSF-IF.B.4, 5, 7 Further Understanding • • • • • • What sort of answers would make sense? Could x be negative? What is are reasonable x values? What should be the domain of the function? The range? Why? HAS-CED.A.2 How to Approach Word Problems 1. 2. 3. 4. 5. 6. Eliminate extra information. Extract main question. Simplify key ideas. Quantify key ideas. Find equation for main question. Solve.