Lecture 2 - Math Review (Student)

Lecture 2 - Math Review (Student) - ∆ Y ∆ X =(Y 2 – Y...

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Lecture II. Math and Graph Review Chapter 1 Addendum pages 20-26 Variables and Relationships Graphing Slopes Linear Equations
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Variables and Relationships Symbols to represent quantities, prices, or other variables. Xs and Ys Y = f(X) is a function Y: dependent variable X: independent variable
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Relationships Y = GPA X = # of hours spent studying per week As X , Y Deterministic Relationship Stochastic Relationship
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Another Example Y = GPA X = # hours spent watching TV per week As X , Y
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Graphing - Setup Let Y = Web Site Revenue Let X = # of web site hits $100 start up bonus to advertise 10 cents per "hit" Then the function relating Y and X is: Y = f(X) = 100 + .1X
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Charting the Function Y = f(X) = 100 + .1X Points that satisfy this function: X Y 0 100 10 101 20 102 30 103 40 104 100 110
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Given this, the graph looks like: Y=100+.1X Y 100 X __________ relationship
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Linear Equations Y = a + bX a = the ___________ term (value of Y when X=0) b = the ________
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Finding the slope of a line
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Unformatted text preview: ∆ Y/ ∆ X = (Y 2 – Y 1 )/(X 2 – X 1 ) (X 2 ,Y 2 ) and (X 1 ,Y 1 ): two points on line i.e. (X 2 ,Y 2 ) = (20,102) and (X 1 ,Y 1 ) = (10,101) ∆ Y/ ∆ X = (102-101)/(20-10) = 1/10 = .1 Interpretation: As the number of web site hits ___________ by 1, revenue __________ by .1 or ten cents. What about an Inverse Relationship? Y X Changing the Y-intercept Y X a < 0 a = 0 a > 0 Example (Course Packet) Fred is going shopping and has $10 to spend. He plans to buy doritos ($2/bag) and/or pepsi ($1/bottle). He wants to spend his entire $10. Fred’s Trip to Kroger: a) Possible Combinations Bags of Doritos (X) Bottles of Pepsi Y b) What is the opportunity cost of one bag of doritos? c) What is the opportunity cost of 1 bottle of Pepsi? d) Let X be # of bags of doritos and Y be # of bottles of pepsi. Find the Y-intercept. e) Find the slope of the line. f) Write the full linear equation. g) Graph the function....
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This note was uploaded on 10/12/2010 for the course MKT 230 taught by Professor Holbein during the Spring '10 term at Kentucky.

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Lecture 2 - Math Review (Student) - ∆ Y ∆ X =(Y 2 – Y...

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