Math 1101 Linear Function
Math 1101 Linear Function MATH 1101
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This 2 page Study Guide was uploaded by StevenSmith on Friday April 29, 2016. The Study Guide belongs to MATH 1101 at Georgia State University taught by Jheng in Spring 2016. Since its upload, it has received 14 views. For similar materials see INTRO TO MATHEMATICAL MODELING in Math at Georgia State University.
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Date Created: 04/29/16
Applications of linear function/equations: Example 1: An appliance repairman charges $60 for a service call plus $25 per hour for each hour spent on the repair. Assuming his service call charges can be modeled by a linear function of the number of hours spent on the repair, write the equation of the function. Example 2: A business property is purchased with a promise to pay of a $60,000 loan plus the $16,500 interest on this loan by making 60 monthly payments of $1275. The amount of money, y, remaining to be paid on $76,500 (the loan plus interest) is reduced by $1275 each month. Although the amount of money remaining to be paid changes every month, it can be modeled by the linear function y=76,500-1275x Where x is the number of monthly payments made. We recognize that only integer values of x from 0 to 60 apply to this application. a. Find the x-intercept and the y-intercept of the graph of this linear equation. b. Interpret the intercepts in the context of this problem situation. c. How should x and y be limited in this model so that they make sense in the application? d. Use the intercepts and results of part(c) to sketch the graph of the given equation. Example 3: Revenue, Cost, and Profit A company produces and sells a product with revenue given by R(x)=89.50x dollars and cost given by C(x)=54.36x+6790 dollars, where x is the number of units produced and sold. a. What is the marginal revenue for this product, and what does it mean? b. Find the profit function. c. What is the marginal profit for this product, and what does it mean? Example 4: The function that models the drug sales for the years 1995-2005 is y=16.908x-20.945 Where x is the number of years after 1990 and y is the sales in billions of dollars. a. What is the slope of the function? b. What is the rate at which the sales grew during this period?
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