Question 120936: A consumer electronics company sells 6.7 million MP3 players per month at a price of $100 apiece; when the price is lowered to $80, the company sells 10.2 million players per month. How many MP3 players can the company expect to sell per month at a price of $75?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A consumer electronics company sells 6.7 million MP3 players per month at a price of $100 apiece; when the price is lowered to $80, the company sells 10.2 million players per month. How many MP3 players can the company expect to sell per month at a price of $75?
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You have two points : (100,6.7) and (80,10.2)
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slope = (10.2-6.7)/(80-100) = 3.5/-20 = -7/40
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equation form: # = (slope)*(price) + b
Substitute to solve for "b":
6.7 = (-7/40)*100 + b
b = 24.20
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EQUATION:
Let price be "x"; Let # sold be "y"
f(x) = (-7/40)x+24.20
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f(75) = (-7/40)*75+24.2
f(75) = 11.0750 million
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Conclusion: When the price is $75 the # sold is 11.075 million
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Cheers,
Stan H.
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