Annual profit in thousands of dollars is given by the function, P(x) = -.01x2 + 50x + 30,000, where x is the number of items sold, x ¡Ý 0.

1.describe the meaning of the number -.01 in the formula

The number -.01 in the formula represents the coefficient of the quadratic term, x^2.

To understand its meaning, let's break down the formula:

P(x) = -.01x^2 + 50x + 30,000

The coefficient, -.01, essentially determines the shape of the quadratic function.

Since the coefficient is negative (-.01), it means that as the value of x increases, the value of the quadratic term (-.01x^2) will decrease. This leads to a downward opening parabolic curve.

Furthermore, the magnitude of the coefficient, .01, indicates the rate of change of the quadratic term. In this case, as x increases by 1 unit, the value of -.01x^2 decreases by .01 unit.

So, the number -.01 in the formula signifies the rate at which the profit decreases as the number of items sold (x) increases.