A baseball team plays in a stadium that holds 51,000 spectators. With ticket prices at $10, the average attendance had been 38,000. When ticket prices were lowered to $8, the average attendance rose to 42,000. Find the demand function (price p as a function of attendance x), assuming it to be linear??

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- anonymous

I just need to find the equation. i keep getting this and its wrong : p = -1000 x+ 59,000

- jim_thompson5910

With ticket prices at $10, the average attendance had been 38,000
means
x = 38000
p = 10
giving you one point (38000, 10)

- jim_thompson5910

When ticket prices were lowered to $8, the average attendance rose to 42,000
means
x = 42000
p = 8
so another point is (42000, 8)

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- jim_thompson5910

now find the slope of the line through those two points

- anonymous

yes and i get p = -1000 x+ 59,000

- anonymous

it says its wrong

- jim_thompson5910

the slope is way to big

- jim_thompson5910

m = (y2-y1)/(x2-x1)
m = ( 8- 10)/(42000-38000)
m = -2/4000
m = -1/2000
So the slope of the line that passes through the two points is -1/2000

- anonymous

and how u find b?

- jim_thompson5910

y = mx + b
y = (-1/2000)x + b
38000 = (-1/2000)(10) + b
solve for b

- anonymous

im getting b=7600001/200 n i believe thats way too big

- jim_thompson5910

38000 = (-1/2000)(10) + b
38000 = -1/200 + b
38000 + 1/200 = b
7600000/200 + 1/200 = b
7600001/200 = b
b = 7600001/200
b = 38000.005

- anonymous

so y=(-1/2000)x
+760001/200?

- anonymous

it says its wrong :(

- jim_thompson5910

try using decimal form instead of fraction form

- anonymous

(a) Find the demand function (price p as a function of attendance x), assuming it to be linear.

- anonymous

thats the actual question

- jim_thompson5910

i know

- jim_thompson5910

maybe you entered the fraction in wrong, try it in decimal form

- anonymous

yea it doesn't let me put in decimals

- jim_thompson5910

ok post a screenshot of what you're inputting

- anonymous

sec

- jim_thompson5910

k

- anonymous

##### 1 Attachment

- jim_thompson5910

the numbers are different from what you gave me

- anonymous

yea I just noticed wow.. im sorry

- jim_thompson5910

it's fine, use the same idea just with these correct values

- anonymous

Thank you

- jim_thompson5910

yw

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