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Question 662300: I'm having trouble with these two word problem:
1. In 2006, 53% of travel booking were made online. The percentage of travel booking made online is increasing by 7.25 percentage points per year. Let "p" be the percentage of travel booking made online at "t" years since 2006. a. Find an equation of a linear model to describe the situation. b. Solve the equation you found in part (a) for "t". c. Use the equation you found in part (b) to estimate in which year 60% of travel booking were made online.
2. Martha Stewart went to prison for selling nearly 4,000 shares of InClone Systems stock because she had inside information that the company was about to announce bad news that would result in yhw stock value to plummeting. Surprisingly, the value of a share of Martha Stewart Living Omnimedia stock increased by about $3.36 per month after she was sentenced. The value of a share of her stock was $8.16 just before she was sentenced. Let "v" be the value (in dollars) of a share of the stock at "t" months since Stewart was sentenced. a) Find an equation of a model to describe the situation. b) Estimate the value of a share of the stock 3 months after the sentencing, which is about when Stewart reported to prison. c) Estimate when the value of a share of the stock reached $28.32
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! 1. In 2006, 53% of travel booking were made online. The percentage of travel booking made online is increasing by 7.25 percentage points per year. Let "p" be the percentage of travel booking made online at "t" years since 2006.
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a. Find an equation of a linear model to describe the situation.
p = 53 + 7.25t
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b. Solve the equation you found in part (a) for "t".
t = (p - 53)/7.25
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c. Use the equation you found in part (b) to estimate in which year 60% of travel booking were made online.
t = (60-53)/7.25 = 7/7.25 = 1 when rounded to a whole year
year = 2007
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2. Martha Stewart went to prison for selling nearly 4,000 shares of InClone Systems stock because she had inside information that the company was about to announce bad news that would result in yhe stock value plummeting. Surprisingly, the value of a share of Martha Stewart Living Omnimedia stock increased by about $3.36 per month after she was sentenced. The value of a share of her stock was $8.16 just before she was sentenced. Let "v" be the value (in dollars) of a share of the stock at "t" months since Stewart was sentenced.
a) Find an equation of a model to describe the situation.
Value = 8.16 + 3.36t
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b) Estimate the value of a share of the stock 3 months after the sentencing, which is about when Stewart reported to prison.
v(3) = 8.16 + 3.36*3 = 18.24
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c) Estimate when the value of a share of the stock reached $28.32
Solve: 28.32 = 8.16 + 3.36t
3.36t = 20.16
t = 6 months
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Cheers,
Stan H.
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