Math Problem Statement

In particular, historical data shows that 9000 shirts can be sold at a price of $67 , while 16000 shirts can be sold at a price of $4 . Give a linear equation in the form p = mn + b that gives the price p they can charge for shirts.

Solution

To find the linear equation p=mn+bp = mn + b, where pp is the price and nn is the number of shirts sold, we need to use the two data points provided:

  1. When 9000 shirts are sold, the price is $67.
  2. When 16000 shirts are sold, the price is $4.

We will treat these as two points on a line: (n1,p1)=(9000,67)(n_1, p_1) = (9000, 67) and (n2,p2)=(16000,4)(n_2, p_2) = (16000, 4).

Step 1: Find the slope mm

The slope of a line mm is calculated using the formula: m=p2p1n2n1m = \frac{p_2 - p_1}{n_2 - n_1} Substituting the values: m=467160009000=637000=0.009m = \frac{4 - 67}{16000 - 9000} = \frac{-63}{7000} = -0.009 So, the slope mm is 0.009-0.009.

Step 2: Use the point-slope form to find the intercept bb

The point-slope form of a linear equation is: pp1=m(nn1)p - p_1 = m(n - n_1) Using the point (9000,67)(9000, 67) and m=0.009m = -0.009: p67=0.009(n9000)p - 67 = -0.009(n - 9000) Expanding this equation: p67=0.009n+81p - 67 = -0.009n + 81 Solving for pp: p=0.009n+81+67p = -0.009n + 81 + 67 p=0.009n+148p = -0.009n + 148

Final Equation:

The linear equation is: p=0.009n+148p = -0.009n + 148 This equation gives the price pp based on the number of shirts nn.

Would you like more details or clarifications on this? Here are some related questions you might explore:

  1. How would the equation change if the price for 20,000 shirts was $3?
  2. What does the slope m=0.009m = -0.009 tell us about the relationship between price and number of shirts?
  3. How can you use this equation to predict the price for selling 12,000 shirts?
  4. Can you graph this equation and interpret the intercept?
  5. How would the linear equation differ if it were a quadratic relationship instead of linear?

Tip: The slope of a linear equation shows how sensitive the price is to changes in the quantity sold. A negative slope indicates that the price decreases as more shirts are sold.

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Math Problem Analysis

Mathematical Concepts

Algebra
Linear Equations
Slope-Intercept Form

Formulas

Slope formula: m = (p2 - p1) / (n2 - n1)
Slope-intercept form: p = mn + b

Theorems

Point-Slope Form of a Line
Linear Function Theorem

Suitable Grade Level

Grades 9-11