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Axia College Material
Appendix C
Polynomials
Retail companies must keep close track of their operations to maintain profitability. Often, the sales data
of each individual product is analyzed separately, which can be used to help set pricing and other sales
strategies.
Application Practice
Answer the following questions. Use Equation Editor to write mathematical expressions and equations.
First, save this file to your hard drive by selecting
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1. In this problem, we analyze the profit found for sales of decorative tiles. A
demand equation
(sometimes called a demand curve) shows how much money people would pay for a product
depending on how much of that product is available on the open market. Often, the demand
equation is found empirically (through experiment, or market research).
a. Suppose a market research company finds that at a price of p = $20, they would sell
x
=
42 tiles each month. If they lower the price to
p
= $10, then more people would purchase
the tile, and they can expect to sell
x
= 52 tiles in a month’s time. Find the equation of the
line for the demand equation. Write your answer in the form p = mx + b. Hint: Write an
equation using two points in the form (
x,p
).
20=m42+b
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This note was uploaded on 12/07/2011 for the course POS/110 POS/110 taught by Professor Palin during the Fall '10 term at University of Phoenix.
 Fall '10
 PALIN

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