SOLUTION: Business and finance. In planning for a new item, a manufacturer assumes that the number of items produced x and the cost in dollars C of producing these items are related by a l

Question 66413: Business and finance. In planning for a new item, a manufacturer assumes that
the number of items produced x and the cost in dollars C of producing these items
are related by a linear equation. Projections are that 100 items will cost $10,000 to
produce and that 300 items will cost $22,000 to produce. Find the equation that
relates C and x.
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Business and finance. In planning for a new item, a manufacturer assumes that
the number of items produced x and the cost in dollars C of producing these
items are related by a linear equation. Projections are that 100 items will cost $10,000 to produce and that 300 items will cost $22,000 to produce.
Find the equation that relates C and x.
:
Let's do the problem using the variables x & y: Cost=y
:
Find the slope: m = (y2-y1)/(x2-x1)
In our problem x1 = 100, y1 = 10000; x2 = 300, y2 = 22000
:
Find the slope (m)
m = = = 60 is the slope
:
Now use the point/slope equation: y - y1 = m(x - x1)
y - 10000 = 60(x - 100)
y - 10000 = 60x - 6000
y = 60x - 6000 + 10000
y = 60x + 4000
:
Substituting "Cost" for y we have:
Cost = 60x + 4000
RELATED QUESTIONS
Business and finance. In planning for a new item, a manufacturer assumes that the number (answered by stanbon)

Business and finance. In planning for a new item, a manufacturer assumes that the... (answered by stanbon)

Business and finance. In planning for a new item, a manufacturer assumes that the number (answered by funmath)

Business and finance. In planning for a new item, a manufacturer assumes that the number (answered by renevencer22)

Business and finance. In planning for a new item, a manufacturer assumes that the number (answered by oberobic)

Business and finance. In planning for a new item, a manufacturer assumes that the number (answered by stanbon)

Business and finance. In planning for a new item, a manufacturer assumes that the number (answered by jim_thompson5910)

Business and finance. In planning for a new item, a manufacturer assumes that the number... (answered by tutorcecilia)

I sent this one before but I have not received a response. Please help. Business and... (answered by jim_thompson5910)