a demand equation for a digital television sets can be a linear function: p=-0.15q+543.8 where the price is a function of the quantity demanded. where p is the price in dollars and q is the quantity of sets sold in thousand a. state the slope and interpret it in this problem ina sentence b. state why the why y-intercept it in the context of this problem
Equations and Inequations
Equations and inequalities describe the relationship between two mathematical expressions.
Linear Functions
A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.
a demand equation for a digital television sets can be a linear function: p=-0.15q+543.8 where the price is a function of the quantity demanded. where p is the price in dollars and q is the quantity of sets sold in thousand
a. state the slope and interpret it in this problem ina sentence
b. state why the why y-intercept it in the context of this problem
(a)
Compare the price function p with the general equation of the straight line and determine the slope and y-intercept for P(q).
Hence, the function P has negative slope of 0.15 and positive y-intercept equal to 543.8.
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