SOLUTION: Pleas help with the problem below. I really appreciate your help.
A trolley company has an average of 800 riders per day, at a fare of $2.25 per ride. They conducted a survey an
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-> SOLUTION: Pleas help with the problem below. I really appreciate your help.
A trolley company has an average of 800 riders per day, at a fare of $2.25 per ride. They conducted a survey an
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Question 75386: Pleas help with the problem below. I really appreciate your help.
A trolley company has an average of 800 riders per day, at a fare of $2.25 per ride. They conducted a survey and found that they will lose approximately 40 customers per day for each $.25 increase in fare.
a) Let the number of riders be a function of the fare charged. Graph the function and find the slope of the graph.
b) If the trolley company was to eliminate the fare, ($0 or free fare), how many riders will they have each day?
c) If the trolley company raises the fare too high, no one will be willing to ride. Starting at what price (of the fare) will no one be willing to ride? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! This is a straight-line relationship and you can find several
points on the line and then find the equation for the line.
Let C = number of riders per day
Let F = fare charged per rider
Here are some points:
C = 800
F = 2.25
---------
C = 760
F = 2.50
---------
C = 720
F = 2.75
---------
C = 680
F = 3.00
---------
C = 640
F = 3.25
---------
Now to find the equation. The slope is the change in the vertical over the
change in the horizontal. Let's plot C on the vertical and F on the
horizontal. Find m = (change in C)/(change in F) for ANY 2 points
Now use the formula that goes except y is C and x is F.
This what to plot.
(a) The slope is -160
(b)If you make F = 0 in the equation C = 1160
You can see this from the graph, too
(c) If you make C = 0, F = 1160 / 160, F = 7.25
So, at a fare of $7.25, no one will ride.
