Statistics Solutions

(See Solution) A company has determined that its monthly profit (P) depends on the amount of money spent on advertising (x). The relationship is given by

Question: A company has determined that its monthly profit ( P ) depends on the amount of money spent on advertising ( x ). The relationship is given by the equation \[P(x)=\frac{2x}{{{x}^{2}}+16}+100\] , where P and x are measured in thousands of dollars.

  1. What amount should the company spend on advertising to assure maximum profit?
  2. What is the maximum profit?

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Deliverable: Word Document


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