Linear Modeling
A linear model that represents certain real-life situations can be expressed with the following equation:
Where m is the slope of the linear graph and b is the y-intercept, of the value of the function when x=0.
The appliances company charges an initial flat rate of $15.10 to request their services and an additional $1.10 per item shipped.
If we call x to the number of items shipped, then the variable cost of shipping them is 1.10x, and the total charge is represented by the function:
Note the flat rate does not have a variable x because its value is constant.
Comparing to the general formula of the linear model, we can learn that:
m = 1.10
b = 15.10
Thus the value of the y-intercept is y=15.10