Question

Write an equation that could be used to find the retail price for each range. How do you know the equation will work consistently for each range?

Answer 1

It looks like you are trying to find the retail price for a given quantity of pairs. To write an equation that could be used to find the retail price for each range of quantities, you will need to know the following information:

The retail price for the first range (0-20 pairs)

The retail price for the second range (21-40 pairs)

The retail price for the third range (41-60 pairs)

The retail price for the fourth range (61-80 pairs)

The retail price for the fifth range (81 or more pairs)

Once you have this information, you can use an if-then statement to create an equation that will work consistently for each range. The equation might look something like this:

if (quantity >= 0 and quantity <= 20):

retail_price = price for 0-20 pairs

elif (quantity >= 21 and quantity <= 40):

retail_price = price for 21-40 pairs

elif (quantity >= 41 and quantity <= 60):

retail_price = price for 41-60 pairs

elif (quantity >= 61 and quantity <= 80):

retail_price = price for 61-80 pairs

else:

retail_price = price for 81 or more pairs

This equation will work consistently for each range because it uses a series of conditions to determine which retail price to use based on the quantity of pairs.

EDIT:

To find the retail price for a given quantity of pairs based on the wholesale prices you provided, you can use the following equation:

if (quantity >= 0 and quantity <= 20):

retail_price = 25.00

elif (quantity >= 21 and quantity <= 40):

retail_price = 23.00

elif (quantity >= 41 and quantity <= 60):

retail_price = 21.00

elif (quantity >= 61 and quantity <= 80):

retail_price = 19.00

else:

retail_price = 17.00

This equation will work consistently for each range because it uses a series of conditions to determine the retail price based on the quantity of pairs. The retail price will be 25.00 for quantities in the first range (0-20 pairs), 23.00 for quantities in the second range (21-40 pairs), 21.00 for quantities in the third range (41-60 pairs), 19.00 for quantities in the fourth range (61-80 pairs), and 17.00 for quantities in the fifth range (81 or more pairs).

Step-by-step explanation:

Answer 2

To find the retail price, use the linear equation y = 15 – 1.5x, ensuring all values are in the correct units, calculate with a calculator, and check the reasonableness of the units and numbers.

Step-by-step explanation:

To find the retail price for each range using a linear equation, we need to identify a relationship between two variables: the 'x' variable represents the number of hours passed in an eight-hour day of trading, and the 'y' variable represents the price of the stock. From the information provided, the equation we can use is y = 15 – 1.5x. This equation will work consistently for each range given because it is derived from the behavior of the stock throughout a trading day.

To ensure accuracy in calculations, we must:

1. Ensure all values are in the correct units before filling them into the equation.
2. Input the data into a calculator or computer and solve for 'y'.
3. Check the units and whether the numbers make sense to confirm the reasonableness of the answer.

Adhering to these steps ensures that calculations are done correctly and helps prevent common errors.