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Question 96112: Assignment
The management of a company that manufactures roller skates has fixed costs of $300 per day and total costs of $4300 per day at an output of 100 pairs of skates per day. Assume that the cost C is linearly related to output X.
Find the slope of the joining the points associated with outputs of 0and 100 pairs of skates and 100 and 4300
Find an equation of the line relating output to cost. Write the final answer in the form C=mX+b
If $p (principal) is invested at an interest rate of r then the amount A that is due after t years is given by A=Prt+P
please help me am so lost i dont know where to start
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! The management of a company that manufactures roller skates has fixed costs of $300 per day and total costs of $4300 per day at an output of 100 pairs of skates per day.
Assume that the cost C is linearly related to output X.
Find the slope of the joining the points associated with outputs of 0and 100 pairs of skates and 100 and 4300
Find an equation of the line relating output to cost. Write the final answer in the form C=mX+b
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It appears that if he manufactures no skates the fixed cost is still 300.
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Points: (100,4300) (0,300)
slope: [4300-300]/[100-0] = 4000/100 = 40
C=mx+b
Use the point (0,300) to find "b":
300 = 40*0 + b
b= 300
EQUATION:
C = 40x + 300
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If $p (principal) is invested at an interest rate of r then the amount A that is due after t years is given by A=Prt+P
True for money invested at simple interest.
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Cheers,
stan H.
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