May 31, 2016

Homework Help: Probabilities

Posted by Andrey L on Tuesday, April 21, 2009 at 2:03pm.

An apartment building has 140 apartments, all renting at the same price. It is know that all the apartments can be rented if the rent is $250 per month, and that each increase in rent by $5 will result in one additional apartment becoming vacant. The rent (in dollars) producing the maximum total revenue is? And the maximum total revenue (in dollars) is?

Is it possible to solve this question on a TI-83?

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