Question

A clothing business finds there is a linear relationship between the number of shirts, n , it can sell and the price, p , it can charge per shirt. In particular, historical data shows that 1,000 shirts can be sold at a price of $30 , while 3,000 shirts can be sold at a price of $14 . Find a linear equation in the form p(n)=mn+b that gives the price p they can charge for n shirts.



Because this answer involves an expression that is more complex than a whole number times n , remember to type in multiplication symbols *. For example, if you wanted to enter 12n , type this in as (1/2)*n.

Answer 1

The value P price they charges for shirts is (-0.008n) + 38

According to the statement

we have given that the 1,000 shirts can be sold at a price of $30 , while 3,000 shirts can be sold at a price of $14 .

And we have to find the linear equation.So,

Let p = price

n = number of shirts

m = slope of the line   (note, the more shirts, the lower the price, so we know it's going to be negative)

b = y intercept

And they gives us the two points like here (1000, $30) and (3000, $14) which have to be on our line.

To find the slope m, you use m = (p₁-p₂)/(n₁-n₂)

Filling in from our points       m = (30-14)/(1000-3000)

                                         m = 16/-2000

                                         m = -0.008

Now that we have the slope and a point, we can find our equation

p-p₁=m(n-n₁)

p-30=(-.008)(n-1000)

p-30= (-.008n) + 8

p=(-.008n) + 38

So, The value P price they charges for shirts is (-0.008n) + 38

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