SOLUTION: A consumer electronics company sells 6.7m MP3 Playerss per month at 100$ a piece. When the price is lowered to 80$ a piece the company sells 10.2m. How many MP3 Players can the co

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Question 397705: A consumer electronics company sells 6.7m MP3 Playerss per month at 100$ a piece. When the price is lowered to 80$ a piece the company sells 10.2m. How many MP3 Players can the company expect to sell per month at a price of 75$ a piece?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
A consumer electronics company sells 6.7m MP3 Playerss per month at 100$ a piece. When the price is lowered to 80$ a piece the company sells 10.2m. How many MP3 Players can the company expect to sell per month at a price of 75$ a piece?
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You have two points: (100,6.7m) and (80,10.2m)
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slope = k = (10.2-6.7)/-20 = -0.175
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Form: N(x) = kx + b
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Solve for "b":
6.7m = -0.175*100 + b
6.7 = -17.5 + b
b = 24.2
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N(x) = -0.175x + 24.2
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N(75) = -0.175*75+24.2
N(75) = 11.075 million
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Cheers,
Stan H.