anonymous
  • anonymous
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??
Mathematics
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anonymous
  • anonymous
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??
Mathematics
schrodinger
  • schrodinger
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anonymous
  • anonymous
I just need to find the equation. i keep getting this and its wrong : p = -1000 x+ 59,000
jim_thompson5910
  • 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
  • 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
  • jim_thompson5910
now find the slope of the line through those two points
anonymous
  • anonymous
yes and i get p = -1000 x+ 59,000
anonymous
  • anonymous
it says its wrong
jim_thompson5910
  • jim_thompson5910
the slope is way to big
jim_thompson5910
  • 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
  • anonymous
and how u find b?
jim_thompson5910
  • jim_thompson5910
y = mx + b y = (-1/2000)x + b 38000 = (-1/2000)(10) + b solve for b
anonymous
  • anonymous
im getting b=7600001/200 n i believe thats way too big
jim_thompson5910
  • 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
  • anonymous
so y=(-1/2000)x +760001/200?
anonymous
  • anonymous
it says its wrong :(
jim_thompson5910
  • jim_thompson5910
try using decimal form instead of fraction form
anonymous
  • anonymous
(a) Find the demand function (price p as a function of attendance x), assuming it to be linear.
anonymous
  • anonymous
thats the actual question
jim_thompson5910
  • jim_thompson5910
i know
jim_thompson5910
  • jim_thompson5910
maybe you entered the fraction in wrong, try it in decimal form
anonymous
  • anonymous
yea it doesn't let me put in decimals
jim_thompson5910
  • jim_thompson5910
ok post a screenshot of what you're inputting
anonymous
  • anonymous
sec
jim_thompson5910
  • jim_thompson5910
k
anonymous
  • anonymous
1 Attachment
jim_thompson5910
  • jim_thompson5910
the numbers are different from what you gave me
anonymous
  • anonymous
yea I just noticed wow.. im sorry
jim_thompson5910
  • jim_thompson5910
it's fine, use the same idea just with these correct values
anonymous
  • anonymous
Thank you
jim_thompson5910
  • jim_thompson5910
yw

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