Question

The daily demand for ice cream cones at a price of $1.20 per cone is 50 cones. At a price of $2.20 per cone, the demand is 30 cones. Use linear interpolation to estimate the demand at a price of $1.50 per cone.

Answer 1

Answer:

The demand at a price of $1.50 per cone is 44 cones

Step-by-step explanation:

 let us apply the interpolation formula to solve this problem

we have

$\frac{y-y1}{x-x1} =\frac{y2-y1}{x2-x1}$

Now let us set the values to the notation above

x= $1.20

x1= $2.20

x2= $1.50

y = 50 cones

y1= 30 cones

y2= ?

$y2= \frac{(y-y1)}{(x-x1)} (x2-x1)+y1$

Substituting our given data we have

$y2= \frac{(50-30)}{(1.2-2.2)} (1.5-2.2)+30\\\\y2= \frac{20}{-1} (-0.7)+30\\\\y2= (20*0.7)+30\\y2= 14+30\\y2= 44$

the demand at a price of $1.50 per cone is 44 cones