Question

What is the midpoint formula(on a number line)?

Answer 1

Answer: (a+b)/2 or 0.5*(a+b)

a and b are the two numbers on the number line.

We add them up and divide in half to get the midpoint.

Example:

a = 1 and b = 7

(a+b)/2 = (1+7)/2 = 8/2 = 4, showing that 4 is the midpoint of 1 and 7

Note the gap from 1 to 4 is 3, and the gap from 4 to 7 is also 3.

Answer 2

The midpoint formula on a number line is used to find the center point between two points by taking the average of their x-coordinates. It is expressed as M = ((x1 + x2) / 2). The Midpoint Method in economics also uses the concept of averaging to calculate consistent elasticity between different price points.

Step-by-step explanation:

The midpoint formula on a number line is used to find the point that is exactly halfway between two given points. To calculate it, you take the average of the x-coordinates of the two points. The formula is given by:

M = ((x1 + x2) / 2)

For example, if we have two points A and B with coordinates x1 and x2 on a number line, the midpoint M of the line segment AB is found by taking the average of x1 and x2. This method is similar to the Midpoint Method in economics, which advantages in its ability to provide consistent elasticity results for price increase or decrease because it uses an average quantity and average price as its base.

Using the Midpoint Method can also be helpful in statistical terms, like finding the line of best fit using the median-median approach, where the y-intercept is calculated based on the sum of median x and y values and the slope.