Question 828718
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given:
71, 1137.70
86, 1488.70
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to solve the linear equation, copy and paste this (the two given points):
71, 1137.70, 86, 1488.70
into the "Two-Point form: x1 y1 x2 y2" input box here: https://sooeet.com/math/linear-equation-solver.php
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x-intercept = (22.3803419, 0)
y-intercept = (0, -523.7)
slope = 23.4
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answer:
the slope-intercept form of the linear model for profit analysis at Ned's:
p(x) = 23.4x - 523.7
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answer:
average variable revenue during this profit analysis time period = $23.40 per student
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answer:
fixed cost during this profit analysis time period = $523.70
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break-even point:
p(x) = 23.4x - 523.7 = 0
23.4x = 523.7
x = 523.7/23.4
x = 22.380341880341884
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answer:
Ned's requires about 23 students to shop during the time period of this profit analysis, (the time period isn't given in the problem statement), in order to break-even for that time period.
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NOTE:
typical time periods for a profit analysis would be: one day, one week, or one month.
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