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Question 231853: directions: For this situation, find a linear model and use it to make a prediction.
situation: The cost of producing 4 units is $204.80. The cost of producing 8 units is $209.60. How much does it cost to produce 12 units?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! The cost of producing 4 units is $204.80. The cost of producing 8 units is $209.60. How much does it cost to produce 12 units?
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You have two points: (4,205.80) and (8,209.60)
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slope = (209.60-205.80)/(8-4) = 3.80/4 = 0.95
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Form: y = mx+b
You know m = 0.95 and y = 205.80 when x = 4 ; solve for "b":
205.80 = 0.95*4 + b
b = 202.00
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C(x) = 0.95x + 202.00
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How much does it cost to produce 12 units?
C(12) = 0.95*12 + 202
C(12) = $213.40
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Cheers,
Stan H.
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