Compute the revenue taken at the four prices


A gas station sells 1400 gallons of gasoline per hour if it charges $ 2.05 per gallon but only 1100 gallons per hour if it charges $ 2.95 per gallon. Assuming a linear model

(a) How many gallons would be sold per hour of the price is $ 2.70 per gallon?
Answer:

(b) What must the gasoline price be in order to sell 1000 gallons per hour?
Answer: $

(c) Compute the revenue taken at the four prices mentioned in this problem -- $ 2.05 , $ 2.70 , $ 2.95 and your answer to part (b). Which price gives the most revenue?

 

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Basic Statistics: Compute the revenue taken at the four prices
Reference No:- TGS0106709

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