Determine the domain of the average cost, in dollars, that you anticipate the average American family might be willing to pay for one gallon of white milk. Provide a reasonable range, keeping in mind that some families do not drink milk, no matter the cost. Required format for writing domain and range is:
____ < x < ______
Determine the range of the average number of gallons of white milk the typical American family might consume in one month. Provide a reasonable domain in the correct format.
You develop a theory that the less white milk costs, the more American families will purchase in a month. To test that out, you ask the research department to survey families. They do, and provide you with data. You see that at $2.50 a gallon, the average number of gallons a family could see themselves purchasing in a month is 10. At $5.00 a gallon, the average number of gallons a family could see themselves purchasing in a month is 4. What slope could explain the difference between these two points? (tip: each point is (cost, gallons)).
Explain the slope. For every increase in milk by $______, families will purchase _______ gallons less of white milk.
Knowing the slope from this data, and knowing the data points provided above, what is the name of the formula you would use to figure out the linear equation created from this data? (tip: many posts about this in the Course Materials forum this week!)
What is the linear equation that explains the data you found? (tip: use the formula you identified above, along with the slope and either one of the points)
According to your equation, how many gallons of milk would the average American family consume if milk was free? (tip: this is the y-intercept!)
Another analyst has been doing this same process with chocolate milk. She has found the following equation explains purchasing behavior for chocolate milk:
Compare the lines that are created by both the equation for white milk and chocolate milk. Are the lines parallel, perpendicular or intersecting?
Without graphing them, how do you know that?
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