SOLUTION: A consumer electronics company sells 5.3 million MP3 players per month at a price of $95 apiece; when the price is lowered to $70, the company sells 7.4 million players per month.

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: A consumer electronics company sells 5.3 million MP3 players per month at a price of $95 apiece; when the price is lowered to $70, the company sells 7.4 million players per month.       Log On


   

Question 560181: A consumer electronics company sells 5.3 million MP3 players per month at a price of $95 apiece; when the price is lowered to $70, the company sells 7.4 million players per month. How many MP3 players can the company expect to sell per month at a price of $65?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Plot number of MP3 players sold/month, n, on the horizontal axis
Plot price, p, of each MP3 player on vertical axis
Use the point slope formula
+%28+p+-+70+%29+%2F+%28+n+-+7.4+%29+=+%28+95+-+70+%29+%2F+%28+5.3+-+7.4+%29+
+%28+p+-+70+%29+%2F+%28+n+-+7.4+%29+=+25+%2F+%28+-2.1+%29+
Multiply both sides by +-2.1%2A%28+n+-+7.4+%29+
+-2.1%2A%28+p+-+70+%29++=+25%2A%28+n+-+7.4+%29+
+-2.1p+%2B+147+=+25n+-+185+
+-2.1p+=+25n+-+332+
+p+=+-+11.905n+%2B+158.095+
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check answer
( 5.3, 95 )
+p+=+-+11.905n+%2B+158.095+
+95+=+-+11.905%2A5.3+%2B+158.095+
+95+=+-63.097+%2B+158.095+
+95+=+94.998+
close enough
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Now find
( n, 65 )
+65+=+-+11.905n+%2B+158.095+
+65+-+158.095+=+-11.905n+
+11.905n+=+93.095+
+n+=+7.82+
They can sell 7.82 million MP3 players at $65 each