Question

The cost of manufacturing soccer balls is given by C = 24,000 + 7x, where x is the number of soccer balls produced.

a. What is the slope of this equation and what does it represent in the context of the problem?
b. What is the y-intercept of this equation and what does it represent in the context of the problem?

Answer 1

The slope of the equation represents the rate at which cost increases per unit produced, while the y-intercept represents the fixed cost.

Step-by-step explanation:

The slope of the equation C = 24,000 + 7x is 7.

This means that for each additional soccer ball produced (x value), the cost of manufacturing (y value) increases by $7.

The y-intercept of the equation is 24,000.

In the context of the problem, this represents the fixed cost of manufacturing soccer balls, or the cost incurred even when no soccer balls are produced.