Artificial Intelligence and Robotics Commons^™

Medical Rate Setting: Multi-Curve Approximation And Projection, Darrin Winger, Christian Sandtveit, Jeremy Straub, Eunjin Kim

Jeremy Straub

In order to maximize profit, our approach was to maximize the difference between total revenue and total cost, where total revenue would be larger than total cost. In the problem we are given a series of points, which relates price, cost, profit and quantity. We can calculate the total revenue by multi-plying the price with quantity, and the total cost by multiplying the cost with the quantity. Total profit is calculated by multiplying profit and quantity. We are given 4 initial points, and based on those 4 points we will calculate the point where the profit is currently maximized. Based …