SOLUTION: The linear profit equation for a company that sells plastic airtight containers is P=a+box ,where P is the profit in rands , x is the number of units sold ,and a and b are constant
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Question 1141407: The linear profit equation for a company that sells plastic airtight containers is P=a+box ,where P is the profit in rands , x is the number of units sold ,and a and b are constant,when 100 units are sold ,the profit is R 15000 and when 400 units are sold the profit is R75000
8.1 Determine the value of a and b
8.2 Draw a neat graph showing profit as a function of the number of units sold
Answer by greenestamps(13215) (Show Source): You can put this solution on YOUR website!
P = a+bx
b is the slope of the profit equation; it tells how fast the profit increases as the number of sales increases.
Between the two given data points, sales increased by 300 (100 to 400) and profit increased by R 60000 (15000 to 75000).
So the slope b is 60000/300 = 200.
Now use that value of b and one of the two given data points to find the value of a.
15000 = a+200(100)
15000 = a+20000
a = -5000
The profit equation is P = -5000 + 300x.
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