Asked by kiley
A manufacturer of graphing calculators has determined that 11,000 calculators per week will be sold at a price of $90 each. At a price of $80, it is estimated that 17,000 calculators would be sold.
A.) determine a linear function that will predict the number of calculators that would be sold at a given price, x.
B.) use this model to predict the number of calculators that would be sold each week at a price of $60.
A.) determine a linear function that will predict the number of calculators that would be sold at a given price, x.
B.) use this model to predict the number of calculators that would be sold each week at a price of $60.
Answers
Answered by
drwls
You are looking for a fofula of the form
N = a - b P
Where N is the number sold and P is the price. a and b are constants you have to determine from your two data points.
11,000 = a - 90 b
17,000 = a - 80 b
a is easily eliminated as follows:
6000 = 10 b
b = 600
Take it from there.
N = a - b P
Where N is the number sold and P is the price. a and b are constants you have to determine from your two data points.
11,000 = a - 90 b
17,000 = a - 80 b
a is easily eliminated as follows:
6000 = 10 b
b = 600
Take it from there.
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