Planner for a festival is trying to decide what to charge for ticket prices. Based on sampling they determine that if they charge $400 for a weekend pass, 40000 people will attend. However it has been pointed out to them that for each $10 reduction in price 4000 more people will attend.
a) create a quadratic relation to model this scenario.
b) Using algebra determine the break even points and explain their meaning.
c)Using algebra determine the maximum revenue the festival can make, the # of people that will attend for maximum revenue, and the price that they will charge to earn the maximum revenue.
d) determine the initial value(y intercept) and explain its meaning.
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