Austin is in the business of manufacturing phones. He must pay a daily fixed cost to rent the building and equipment, and also pays a cost per phone produced for materials and labor. Let C represent the total cost, in dollars, of producing p phones in a given day. A graph of C is shown below. Write an equation for C then state the slope of the graph and determine its interpretation in the context of the problem.Answer Attempt 1 out of 2C=□The slope of the function is □ which represents
Q. Austin is in the business of manufacturing phones. He must pay a daily fixed cost to rent the building and equipment, and also pays a cost per phone produced for materials and labor. Let C represent the total cost, in dollars, of producing p phones in a given day. A graph of C is shown below. Write an equation for C then state the slope of the graph and determine its interpretation in the context of the problem.Answer Attempt 1 out of 2C=□The slope of the function is □ which represents
Start Point and Fixed Cost: The graph typically starts at a point on the y-axis, which represents the fixed cost (let's call it F). This is the cost Austin pays regardless of the number of phones produced. The graph then rises with a constant slope, which represents the variable cost per phone (let's call it v). The equation for a line is y=mx+b, where m is the slope and b is the y-intercept. In this context, C=vp+F.
Calculating the Slope: To find the slope v, we need two points on the graph. Let's say the graph passes through (p1,C1) and (p2,C2). The slope v is calculated as (C2−C1)/(p2−p1). This slope represents the cost per phone for materials and labor.
Finding the Y-Intercept: The y-intercept F is the point where the line crosses the y-axis, which occurs when p=0. This is the daily fixed cost for renting the building and equipment.
Example Calculation: Now, let's assume the graph provided specific points or values for the slope and y-intercept. For example, if the graph shows that the fixed cost is $100 and the cost per phone is $5, the equation would be C=5p+100.
Interpreting the Slope: The slope of the function is 5, which represents the cost per phone for materials and labor. This means for every additional phone produced, the total cost increases by $5.
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