Final answer:
To model the given situation in a matrix equation, we set up matrices A, B, and X using the given information. The equation A-1B = X represents the relationship between these matrices.
Step-by-step explanation:
In this problem, we are given the amounts spent by Ryan, Michelle, and Erwin at an amusement park. We are also given the number of tickets they bought for each ride. Let x, y, and z represent the ticket cost for the Ferris wheel, water slide, and merry-go-round, respectively. To create a matrix equation that models this situation, we need to set up the matrices A, B, and X as follows:
A = [[3, 2, 0], [1, 0, 4], [3, 1, 1]], B = [[x], [y], [z]], X = [[13.50], [16.50], [14]].
The equation A-1B = X represents the multiplication of the inverse of matrix A with matrix B, which is equal to matrix X.