Question 156461: I have been stuck on this one for a couple hours and I've tried everything that I know how to to for it. I changed the numbers from the original problem. Can youshow me how to do this as an example, that way I can work it through on the real problem.
Suppose that 6 million pounds of coffee are sold when the price is $6 per pound, and 4.5 million pounds are sold whenthe price is $7 per pound.
(a) find a linear equation that expresses the amount (A) of coffee sold as a function of price (P).
(b) interpret the meaning of the slope of your equation in the context of this problem.
Found 2 solutions by stanbon, ankor@dixie-net.com:
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Suppose that 6 million pounds of coffee are sold when the price is $6 per pound, and 4.5 million pounds are sold whenthe price is $7 per pound.
(a) find a linear equation that expresses the amount (A) of coffee sold as a function of price (P).
You are given two points: ($6,6), ($7,4.4)
slope = (4.4-6)/(7-6) = -1.6
intercept 4.4 = -1.6*7 + b
b = 15.6
EQUATION:
A = -1.6p + 15.6, where A is in millions of lbs.
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(b) interpret the meaning of the slope of your equation in the context of this problem.
When the price rises one dollar, the amount sold is reduced by 1.6 million lbs.
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Cheers,
Stan H.
Answer by ankor@dixie-net.com(22740)  (Show Source):
You can put this solution on YOUR website! Suppose that 6 million pounds of coffee are sold when the price is $6 per pound, and 4.5 million pounds are sold when the price is $7 per pound.
:
Assuming that sales are dependent on price;
Assign the given values as follows:
x1 = 6; y1 = 6 (million)
x2 = 7; y2 = 4.5
:
(a) find a linear equation that expresses the amount (A) of coffee sold as a function of price (P).
Find the slope:
m =  = 
slope is -1.5
:
Find the equation using the point/slope equation: y-y1 = m(x-x1)
y - 6 = -1.5(x - 6)
y - 6 - -1.5x + 9
y = -1.5x + 9 + 6
They want the equation in this form:
A(p) = -1.5p + 15; is the equation
:
(b) interpret the meaning of the slope of your equation in the context of this problem.
:
For every dollar increase in price, sales drop 1.5 million$
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