SOLUTION: The cost of manufacturing a molded part is related to the quantity produced during a production run in addition to a fixed set-up cost. When 100 parts are produced, the cost is $13

Question 754455: The cost of manufacturing a molded part is related to the quantity produced during a production run in addition to a fixed set-up cost. When 100 parts are produced, the cost is $1300. When 300 parts are produced, the cost is $2300. I am not sure how to even begin to work this question and would just like some guidance
please
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The cost of manufacturing a molded part is related to the quantity produced during a production run in addition to a fixed set-up cost. When 100 parts are produced, the cost is $1300. When 300 parts are produced, the cost is $2300.
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You probably are asked to generate an equation that relates parts produced
to cost.
You have 2 points (100,1300) and (300,2300)
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slope = (2300-1300)/(300-100) = 1000/200 = 5
------
Form: cost = slope(# of parts) + b
solve for "b" which is the set-cost for the operation.
1300 = 5(100) + b
b = 1300-500
b = 800
--------
Equation:
C(x units) = 5(x units) + 800
OR
C(x) = 5x + 800
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Cheers,
Stan H.
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