SOLUTION: The manager of a furniture factory finds that it costs $2200 to manufacture 100 chairs in one day and $4800 to produce 300 chairs in one day.
(a) Assuming that the relationshi
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(a) Assuming that the relationshi
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Question 1085559: The manager of a furniture factory finds that it costs $2200 to manufacture 100 chairs in one day and $4800 to produce 300 chairs in one day.
(a) Assuming that the relationship between cost and the number of chairs produced is linear, find an equation that expresses this relationship.
(b) What is the slope of the line in part (a) and what does it represent (in words)?
(c) What is the y-intercept of this line and what does it represent (in words)? Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! Let fixed costs be a constant, c. Then:
2200=c+100x
4800=c+300x
200x=2600
x=13
c=900
So:
y=13x+900
The slope is 1/13, and represents the variable costs of making furniture
The y-intercept at x=0 represents your fixed costs.
