R.4 Slope + Linear Functions
R.4 Slope + Linear Functions STAT 1102 - 003
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STAT 1102 - 003
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This 3 page Class Notes was uploaded by Kayla Notetaker on Monday September 21, 2015. The Class Notes belongs to STAT 1102 - 003 at Temple University taught by Ron Kershner in Fall 2015. Since its upload, it has received 30 views. For similar materials see QUANTITATIVE METHODS FOR BUSINESS II in Statistics at Temple University.
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Date Created: 09/21/15
R4 Lecture Notes Linear Function ymXb 0 b y intercept 0 m slope gt How do you find slope gt change in y change in x Z Y2 Y1 X2 X1 If the slope is a positive number then it s an increasing function If the slope is a negative number then it s a decreasing function M slope defines the amount of change in y per change in x Special Cases 1 intercept through the 00 a Y mX i y is directily proportional ii 11 22 33 etc 2 The slope is O a this means this is a horizontal line b y b c y the yintercept SlopeIntercept Equation y mX b m slope b yintercept where the line touches yaxis PointSlope Equation yymXX1 with the slope of a line and at LEAST one coordinate on the graph we can find the equation of the line using this formula Example Given m 3 and 1 5 find the equation 1 plug in information y53X1 2 distribute the 3 y53x3 3 rewrite y53X3 4 subtract 5 from both sides y3X35 4 add like terms y 3X 2 Finding equation with 2 points on the graph 2 6 and 49 1 use slope equation X2 X1 a 9 6 4 lt 2gt b simplify 2 39 2 d use point slope formula with either point e y6gt xlt2gtgt f distribute 2 2 3 3 g y6 E X3 gt E 2gt2 scancelbycross multiplication and leaves 3 h add 6 to both sides 3 i y E X 3 Business Application Total cost of production is the sum of Fixed costs and variable costs Cx variable costs fixed costs Rx unit price quantity sold Px revenue function total cost function revenue total cost Total Profit Revenue R x C x Revenue x quantity sold quantity sold x 20x 20x 60x 10 000 ll DDDDD 60X 60X Cost to produce 100 units total production cost function 10000 20100 10 000 2000