document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=70690>Question 70690</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/0618643109/algebrahomeworkh>College Algebra </A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> A real estate office handles an apartment complex with 50 units. When the rent per unit is $580 per month, all 50 units are occupied. However, when the rent is $625 per month, the average number of occupied units drops to 47. Assume that the relationship between the monthly rent (p) and the demand (x) is linear.<BR>\n" );
document.write( "A) Write the euqation of the line giving the demand (x) in terms of the rent (p). </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #50487 by </B><A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><B>ankor@dixie-net.com(22740)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ankor@dixie-net.com><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ankor@dixie-net.com><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=50487\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A real estate office handles an apartment complex with 50 units. When the rent per unit is $580 per month, all 50 units are occupied. However, when the rent is $625 per month, the average number of occupied units drops to 47. Assume that the relationship between the monthly rent (p) and the demand (x) is linear.<BR>\n" );
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document.write( "Since the equation will be linear, we only need two coordinates to write the equation.<BR>\n" );
document.write( "They are given, we can assign the values x = no.of units and y = rent: <BR>\n" );
document.write( "x1 = 50, y1 = 580<BR>\n" );
document.write( "and<BR>\n" );
document.write( "x2 = 47, y2 = 625<BR>\n" );
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document.write( "Find the slope: m = (y2-y1)/(x2-x1)<BR>\n" );
document.write( "m = (625-580)/(47 - 50) = 45/-3 = -15 is the slope (m)<BR>\n" );
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document.write( "A) Write the equation of the line giving the demand (x) in terms of the rent (p)<BR>\n" );
document.write( "Use the point/slope equation<BR>\n" );
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document.write( "Using the point/slope formula: y - y1 = m(x - x1)<BR>\n" );
document.write( "y - 580 = -15(x - 50)<BR>\n" );
document.write( ":<BR>\n" );
document.write( "y - 580 = -15x + 750<BR>\n" );
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document.write( "y  = -15x + 750 + 580<BR>\n" );
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document.write( "y = -15x + 1330<BR>\n" );
document.write( "or<BR>\n" );
document.write( "p(x) = -15x + 1330 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );