A baseball team plays in a stadium that holds 50000 spectators. With the ticket price at $11 the average attendence has been 20000. When the price dropped to $9, the average attendence rose to 25000. Assume that attendence is linearly related to ticket price. Write the total revenue of the team as a function of the price. R(p) = $ What ticket price would maximize revenue? %24

A baseball team plays in a stadium that holds 50000 spectators. With the ticket price at $11 the average attendence has been 20000. When the price dropped to $9, the average attendence rose to 25000. Assume that attendence is linearly related to ticket price. Write the total revenue of the team as a function of the price. R(p) = $ What ticket price would maximize revenue? %24

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter3: Straight Lines And Linear Functions

Section3.CR: Chapter Review Exercises

Problem 8CR: Working on a Commission A certain man works in sales and earns a base salary of 1000 per month plus...

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Tuition at American Public Universities This is a continuation of Exercise 6. The following table shows the average yearly in-state tuition and required fees, in dollars, charged by four-year American public universities in the school year ending in the given year. Date Average tuition 2012 8318 2013 8595 2014 8872 2015 9149 2016 9426 a. Show that these data can be modeled by a linear function, and find its formula. b. What is the slope for the linear function modeling tuition and required fees for public universities? c. What is the slope of the linear function modeling tuition and required fees for private universities? Note: See Exercise 6. d. Explain what the information in parts b and c tells you about the rate of increase in tuition in public versus private institutions. e. Which type of institution shows the larger percentage increase from 2015 to 2016? 6. Tuition at American Private Universities The following table shows the average yearly tuition and required fees, in dollars, charged by four-year American private nonprofit universities in the school year ending in the given year. Date Average tuition 2012 27, 870 2013 29, 004 2014 30, 138 2015 31, 272 2016 32, 406 a. Show that these data can be modeled by a linear function, and find its formula. b. Plot the data points and add the graph of the linear formula you found in part a. c. What prediction does this formula give for average tuition and fees at four-year American private nonprofit universities for the academic year ending in 2021?
High School Graduates The following table shows the number, in millions, graduating from high school in the United States in the given year. Year Number graduating in millions 1985 2.83 1987 2.65 1989 2.47 1991 2.29 a. By calculating difference, show that these data can be modeled using a linear function. b. What is the slope for the linear function modeling high school graduations? Explain in practical terms the meaning of the slope. c. Find a formula for a linear function that models these data. d. Express, using functional notation, the number graduating from high school in 1994, and then use your formula from part c to calculate that value.
Demand for Soft Drinks A convenience store manager notices that sales of soft drink are higher on hotter days, so he assembles the data in the table. (a) Make a scatter plot of the data. (b) Find and graph a linear function that models the data. (c) Use the model to predict soft drink sales if the temperature is 95F
Demand for Soft Drinks A convenience stores manager notices that sales of soft drinks are higher on hotter days, so he assembles the data in the table. a Make a scatter plot of the data. b Find and graph a linear function that models the data. c Use the model to predict soft drink sales if the temperature is 95. High temperature Number of cans sold 55 340 58 335 64 410 68 460 70 450 75 610 80 735 84 780
Working on a Commission A certain man works in sales and earns a base salary of 1000 per month plus 5 of his total sales for the month. a. Explain why his total monthly income I is a linear function of total sales S, both measured in dollars. b. How much does he earn if he sells 1600 in merchandise in a month? c. Write a formula that gives total monthly income as a linear function of sales in a month. d. What should his monthly total sales be if he wishes to earn 1350 this month?
Manufacturing Cost The manager of a furniture factory finds that it costs 2200 to produce 100 chairs in one day and 4800 to produce 300 chairs in one day. a Assuming that the relationship between cost and the number of chairs produced is linear, find a linear function C that models the cost of producing x chairs in one day. b Draw a graph of C. What is the slope of this line? c At what rate does the factorys cost increase for every additional chair produced?
Manufacturing Cost The manager of a furniture factory finds that it costs $2200 to produce 100 chairs in one day and $4800 to produce 300 chair in or day. (a) Assuming that the relationship between cost and the number of chair’ produced is linear, find a linear function C that models the cost of producing x chair’s in one day. (b) Draw a graph of C. What is the slope of this line? (c) At what rate does the factory’s cost increase for every additional chair produced?