In most businesses, increasing prices of products can negatively impact the number of customers. A bus company in a small town has an average number of riders of 800 per day. The bus company charges $2.25 for a ride. They conducted a survey of their customers and found that they will lose approximately 40 customers per day for each $.25 increase in fare.
a) Let the number of riders be a function of the fare charged. Graph the function, identify the graph of the function (line, parabola, hyperbola, or exponential), and find the slope of the graph.
b) The bus company has determined that even if they set the price very low, there is a maximum number of riders permitted each day. If the price is $0 (free), how many riders are permitted each day?
Answer:
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c) If the bus company sets the price too high, no one will be willing to ride the bus. Beginning at what ticket price will no one be willing to ride the bus?
Answer:
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2007-03-29 14:37:43 · 2 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
u think im a genius?
2007-03-29 14:45:44 · answer #1 · answered by Poorlyone 2 · 0⤊ 1⤋
a)
The graph is a straight line
I havn't had to determine the slope of a line for a long time as it is not actually used in real life by most of the world. You will have to try and figure that one out (not to mention this Q/A site doesn't really have a way to show graphs anyway.
b) $2.25 / .25 = 9 (original price divided by incremental decrease amount = 9 decreases to reach $0)
9 x 40 = 360 (# of decreases times the number of additional riders per decrease = additional 360 people)
800 + 360 = 1160 (original # of riders plus incremental increase total = 1160 riders per day when the fare reaches zero)
c)
800 / 40 = 20 (# of original riders divided by # of riders lost with each increase)
20 x $.25 = $5.00 (# of increases times amount of increase)
$5.00 + $2.25 = $7.25 (amount of increase plus original fare)
2007-03-29 23:46:13 · answer #2 · answered by JJ 5 · 0⤊ 0⤋