SOLUTION: Suppose that when the price of a certain coffee is $11 per pound, 7.5 million pounds of coffee are sold; and when that price is $16 per pound, 6.0 million pounds are sold. Let the

Question 1188791: Suppose that when the price of a certain coffee is $11 per pound, 7.5 million pounds of coffee are sold; and when that price is $16 per pound, 6.0 million pounds are sold. Let the function f(x) represent the amount of coffee sold in millions of pounds where x is the price per pound in dollars.
a) Find a linear function for f(x) that fits the data.
b) How much of this coffee are consumers willing to buy at a price of $8 per pound?
Answer by ikleyn(52803) (Show Source): You can put this solution on YOUR website!
.


The answer to the first question is this standard interpolation/extrapolation linear function

through the points (11,7.5) and (16,6.0)


    f(x) = 7.5 +  = 7.5 -  = 7.5 - 0.3*(x-11),


where the right side represents millions of pounds coffee sold.



To answer the second question, substitute x= 8 dollars into the formula and calculate f(8).

Solved, answered and explained.

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