Question 156461
Suppose that 6 million pounds of coffee are sold when the price is $6 per pound, and 4.5 million pounds are sold whenthe price is $7 per pound.
(a) find a linear equation that expresses the amount (A) of coffee sold as a function of price (P).
You are given two points: ($6,6), ($7,4.4)
slope = (4.4-6)/(7-6) = -1.6
intercept 4.4 = -1.6*7 + b
b = 15.6
EQUATION:
A = -1.6p + 15.6, where A is in millions of lbs.
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(b) interpret the meaning of the slope of your equation in the context of this problem.
When the price rises one dollar, the amount sold is reduced by 1.6 million lbs.
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Cheers,
Stan H.