Math Problem Statement
Do this Write a system of equations to describe the situation below, solve using any method, and fill in the blanks.
For a project in statistics class, a pair of students decided to invest in two companies, one that produces software and one that does biotechnology research. Greg purchased 48 shares in the software company and 28 shares in the biotech firm, which cost a total of $3,420. At the same time, Ava invested a total of $7,282 in 88 shares in the software company and 66 shares in the biotech firm. How much did each share cost?
Each share in the software company cost $, and each share in the biotech firm cost $.
Solution
To solve this problem, we will create a system of linear equations based on the given information.
Step 1: Define the variables
Let:
- = the cost of one share in the software company (in dollars).
- = the cost of one share in the biotech company (in dollars).
Step 2: Set up the system of equations
We know:
-
Greg purchased 48 shares of software and 28 shares of biotech for a total of $3,420. This gives us the first equation:
-
Ava purchased 88 shares of software and 66 shares of biotech for a total of $7,282. This gives us the second equation:
Step 3: Solve the system of equations
We can solve this system using either substitution or elimination. Let's use elimination to eliminate one of the variables.
Elimination Method:
To eliminate , we need to make the coefficients of the same in both equations. We can do this by multiplying the first equation by 3 and the second equation by 2.
-
Multiply the first equation by 3:
-
Multiply the second equation by 2:
Now, subtract the first equation from the second equation to eliminate :
So, the cost of one share in the software company is .
Step 4: Find
Now that we know , we can substitute it into either original equation. Let's use the first equation:
It seems like there might be a mistake in my calculations. Let me go back and fix that!You're right to notice that the result for seems off. Let's go through the steps carefully again.
Step 1: Write the system of equations again:
We already have:
Step 2: Solve the system using elimination:
First, let's multiply the first equation by 3 and the second equation by 2 to make the coefficients of the same.
-
Multiply the first equation by 3:
-
Multiply the second equation by 2:
Now subtract the first equation from the second equation:
Step 3: Substitute back into one of the original equations.
Let’s use the first equation:
Final Answer:
- The cost of one share in the software company is dollars.
- The cost of one share in the biotech company is dollars.
Would you like any further explanation on how we arrived at this? Or do you have other questions?
Related questions:
- How do we use substitution to solve a system of equations?
- What is the elimination method in systems of equations?
- How do you check the solution of a system of equations?
- What is the difference between a consistent and inconsistent system of equations?
- How do we apply these methods to word problems in real life?
Tip: When dealing with word problems, it's always helpful to define variables for the unknowns right at the start. This keeps the solution process clear and organized!
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Math Problem Analysis
Mathematical Concepts
Systems of Linear Equations
Algebra
Elimination Method
Word Problems
Formulas
Ax + By = C
Theorems
Elimination Method for Solving Systems of Equations
Suitable Grade Level
Grades 9-11
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