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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??
 one year ago
 one year ago
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??
 one year ago
 one year ago

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dainel40Best ResponseYou've already chosen the best response.0
I just need to find the equation. i keep getting this and its wrong : p = 1000 x+ 59,000
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
With ticket prices at $10, the average attendance had been 38,000 means x = 38000 p = 10 giving you one point (38000, 10)
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
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)
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
now find the slope of the line through those two points
 one year ago

dainel40Best ResponseYou've already chosen the best response.0
yes and i get p = 1000 x+ 59,000
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
the slope is way to big
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
m = (y2y1)/(x2x1) m = ( 8 10)/(4200038000) m = 2/4000 m = 1/2000 So the slope of the line that passes through the two points is 1/2000
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
y = mx + b y = (1/2000)x + b 38000 = (1/2000)(10) + b solve for b
 one year ago

dainel40Best ResponseYou've already chosen the best response.0
im getting b=7600001/200 n i believe thats way too big
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
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
 one year ago

dainel40Best ResponseYou've already chosen the best response.0
so y=(1/2000)x +760001/200?
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
try using decimal form instead of fraction form
 one year ago

dainel40Best ResponseYou've already chosen the best response.0
(a) Find the demand function (price p as a function of attendance x), assuming it to be linear.
 one year ago

dainel40Best ResponseYou've already chosen the best response.0
thats the actual question
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
maybe you entered the fraction in wrong, try it in decimal form
 one year ago

dainel40Best ResponseYou've already chosen the best response.0
yea it doesn't let me put in decimals
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
ok post a screenshot of what you're inputting
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
the numbers are different from what you gave me
 one year ago

dainel40Best ResponseYou've already chosen the best response.0
yea I just noticed wow.. im sorry
 one year ago

jim_thompson5910Best ResponseYou've already chosen the best response.1
it's fine, use the same idea just with these correct values
 one year ago
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