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Musya8 [376]
3 years ago
6

A certain car rental location charges a daily fee as well as a mileage charge. On one trip a businessman rented a car for the da

y, drove it 150 miles. He was charged $79 (plus taxes). On another occasion when he rented a comparable car for the day, he drove it 65 miles and was charged $63.70 (plus taxes).
How many miles could the car be driven for $100 (without regard for any taxes that might be applied)? Round to a whole number of miles.
Mathematics
1 answer:
nikklg [1K]3 years ago
7 0

Answer:

x\approx 267\ miles

Step-by-step explanation:

<u>Linear Modeling</u>

Some events can be modeled as linear functions. If we are in a situation where a linear model is suitable, then we need two sample points to make the model and predict unknown behaviors.

The linear function can be expressed in the slope-intercept format:

f(x)=mx+b

For the problem at hand, we must pick the adequate variables according to the data provided.

The question states the charge for renting a car is a function of the mileage. It also provides two points from which we can build our model. Let's set the following variables:

c = the charge for renting a car in dollars

x = the distance driven by the businessman in miles

Representing the ordered pair as (x,c), we have the points: (150,79) and (65,63.70). Our model will be expressed as:

c = mx+b

We must find the values of m and b with the data provided. Substituting the first point:

79 = 150m+b

Substituting the second point:

63.70 = 65m+b

Both equations form the following system:

\left\{\begin{matrix}150m+b=79\\ 65m+b=63.70 \end{matrix}\right.

Subtracting both equations:

150m-65m=79-63.70

Note the variable b was canceled out in the operation, leaving only the variable m to solve. Joining like terms:

85m=15.3

Solving:

m=15.3/85=0.18

From the first equation

79 = 150m+b

Solving for b:

b=79-150m=79-150(0.18) = 52.

The model for the problem is:

c=0.18x+52

Now we need to calculate how many miles (x) could be driven for c=$100. From the equation above, substitute c=100

100=0.18x+52

Solve for x:

0.18x+52=100

0.18x=100-52=48

x=48/0.18=266.67

Rounding to the closest integer:

\boxed{x\approx 267\ miles}

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The equilibrium point for the pair of demand and supply function is 100

We have been two linear function, one is linear supply function and other is linear demand function.

In general , linear supply function is given as:

                            Qs = x + yP

                       Where , Qs = quantity supplied

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And linear demand function is given is :

                             Qd = x + yP

                      Where , Qs = quantity supplied

                                        x = quantity

                                        P = price

According to the question,

                   Linear supply function is q = 300 + 5x

          And  linear demand function is q = 4800 – 40x

To find the equilibrium point we will put two quantities equal, that is,

                                 Qs = Qd

                      300 + 5x = 4800 – 40x

                        5x + 40x = 4800 – 300

                          45x = 4500

                             x =  100

Hence the equilibrium point is 100

Learn more about equilibrium point here : brainly.com/question/1915798

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