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Re: The daily profit, P, for selling x units of a certain item at [#permalink]
\(­-(x-a)^2 + K \) will be maximum at x = a, 
Above equation 

\(P(x)=−a(x−b/2a)^2+b^2/4a+c\), This equation can be represented in the above format as the \(b^2/4a+c\) will always be a constant. 

As -a(k)^2 will always be a negtive number, P(x) will be maximum at x=b/2a, Making the negitive componant to be 0.

Hence max value of p(x) = \(b^2/4a+c\)

To get the value of this we need to use both Stmt 1 & Stmt 2. 

Hence IMO C.
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Re: The daily profit, P, for selling x units of a certain item at [#permalink]
chetan2u KarishmaB Bunuel MartyMurray

Kindly share your method of solving this question.
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Re: The daily profit, P, for selling x units of a certain item at [#permalink]
Bunuel this is from the official mock test #5
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Re: The daily profit, P, for selling x units of a certain item at [#permalink]
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ilikeshoppingalot wrote:
Bunuel this is from the official mock test #5

­Changed the source to GMAT Prep (Focus). Thank you!
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The daily profit, P, for selling x units of a certain item at [#permalink]
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ilikeshoppingalot wrote:
The daily profit, P, for selling x units of a certain item at a sporting goods store can be modeled by the function \(P(x) = -a(x -\frac{b}{2a})^2 + \frac{b^2}{4a}+c\)­, where a and b are positive constants and c is a nonnegative constant. What is the maximum daily profit for selling this item?

(1) \(b^2 + 4ac = \frac{52ac}{3}\)

(2) c = 360

A) Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient
B) Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient
C) Both statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient
D) EACH statement ALONE is sufficient
E) Statements (1) and (2) TOGETHER are NOT sufficient­

Note the 3 terms of the profit expression carefully:

\(P(x) = -a(x -\frac{b}{2a})^2 + \frac{b^2}{4a}+c\)­

'a' and 'b' are both positive so 'a' multiplied by a square will be positive (if square is not 0) which means the first term  \(-a(x -\frac{b}{2a})^2\) is negative or 0. For maximum profit, this term should be 0. The other two terms are certainly positive or 0. 

\(Maximum P = \frac{b^2}{4a}+c = \frac{b^2+4ac}{4a}\)

(1) \(b^2 + 4ac = \frac{52ac}{3}\)

\(Maximum P = \frac{52ac}{3*4a} = \frac{52c}{3*4}\)
We don't know the value of c so not sufficient. 

(2) c = 360

We don't know the value of a and b so not sufficient.

Using both, \(Maximum P = \frac{52c}{3*4} = \frac{52*360}{3*4}\)

We can find this value and hence it is sufficient.

Answer (C)
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Re: The daily profit, P, for selling x units of a certain item at [#permalink]
­I do think there is mistake in the final answer C.

Let's look at the question and it said " for selling X units of a cerain item at a sporting goods store", which clearly indicate X is a positive integer because usually we cannot say that we sell 1.5 units of sport item. 
At the same time, we know when x=b/2a, P would achieve the maximum profit. However, we cannot ensure that when x=b/2a, b/2a is a integer because question only mentioned a and b are postive constants. Therefore, mathematically speaking, when x=b/2a, P achieves the maximum profit but in this case x probably cannot exactly equal to b/2a. x only could equal to the integer near to b/2a.

Therefore, actually we don't know what's the nearest integer number to b/2a, then we cannot know what's the maximum daily profit.

So i think E should be right answer.
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Re: The daily profit, P, for selling x units of a certain item at [#permalink]
Kinshook wrote:
Given: The daily profit, P, for selling x units of a certain item at a sporting goods store can be modeled by the function \(P(x) = -a(x -\frac{b}{2a})^2 + \frac{b^2}{4a}+c\)­, where a and b are positive constants and c is a nonnegative constant.

Asked: What is the maximum daily profit for selling this item?<br />

Since a is positive, the maximum value of \(-a(x -\frac{b}{2a})^2 = 0\) since -a is negative and the value of expression is 0 at \(x =\frac{b}{2a}\)<br />
Maximum profit P(x=b/2a) =\( \frac{b^2}{4a}+c\)­

(1) \(b^2 + 4ac = \frac{52ac}{3}\)
Maximum daily profit = \( \frac{b^2}{4a}+c = \frac{bˆ2 + 4ac }{ 4a} = \frac{52ac}{3*4a} = \frac{13c}{3}\)
Since the value of c is unknown
NOT SUFFICIENT

(2) c = 360
Maximum daily profit = \( \frac{b^2}{4a}+c = \frac{b^2}{4a} + 360\)­
Since value of \(\frac{b^2}{4a}\) is unknown
NOT SUFFICIENT

(1) + (2) 
(1) \(b^2 + 4ac = \frac{52ac}{3}\)
Maximum daily profit = \( \frac{b^2}{4a}+c = \frac{bˆ2 + 4ac }{ 4a} = \frac{52ac}{3*4a} = \frac{13c}{3}\)
(2) c = 360
Maximum daily profit \(= \frac{13c}{3} = \frac{13*360}{3} = 13*120 = 1560\)
SUFFICIENT

IMO C­

­I do think there is mistake in the final answer C.

Let's look at the question and it said " for selling X units of a cerain item at a sporting goods store", which clearly indicate X is a positive integer because usually we cannot say that we sell 1.5 units of sport item. 
At the same time, we know when x=b/2a, P would achieve the maximum profit. However, we cannot ensure that when x=b/2a, b/2a is a integer because question only mentioned a and b are postive constants. Therefore, mathematically speaking, when x=b/2a, P achieves the maximum profit but in this case x probably cannot exactly equal to b/2a. x only could equal to the integer near to b/2a.

Therefore, actually we don't know what's the nearest integer number to b/2a, then we cannot know what's the maximum daily profit.

So i think E should be right answer.
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