Question

You saved $300 to spend over the summer. You decide to budget $50 to spend each week.

Answer 1

Answer:

Part c)

The Slope of the line is: m=-50 and represents the amount of money spent per week.

Part d)

The y-intercept is: c=300 and represents the maximum money we have that can be spend over the weeks (i.e. our maximum budget alowed).

Step-by-step explanation:

To solve this question we shall look at linear equations of the simplest form reading:

$y = mx+c$    Eqn(1).

where:

$y$: is our dependent variable that changes as a function of x

$x$: is our independent variable that 'controls' our equation of y

$m$: is the slope of the line

$c$: is our y-intercept assuming an $x$⇔$y$  relationship graph.

This means that as $x$ changes so does $y$ as a result.

Given Information:

Here we know that $300 is our Total budget and thus our maximum value (of money) we can spend, so with respect to Eqn (1) here:

$c=300$

The budget of $50 here denotes the slope of the line, thus how much money is spend per week, so with respect to Eqn (1) here:

$m=50$

So finally we have the following linear equation of:

$y= - 50x + 300$    Eqn(2).

Notice here our negative sign on the slope of the line. This is simply because as the weeks pass by, we spend money therefore our original total of $300 will be decreasing by $50 per week.

So with respect to Eqn(2), and different weeks thus various $x$ values we have:

Week 1: $x=1$ we have $y= -50 *1 + 300 = -50 +300 = 250$ dollars.

Week 2: $x=2$ we have $y= -50 *2 + 300 = -100 +300 = 200$ dollars.

Thus having understood the above we can comment on the questions asked as follow:

Part c)

The Slope of the line is: $m=-50$ and represents the amount of money spent per week.

Part d)

The y-intercept is: $c=300$ and represents the maximum money we have that can be spend over the weeks (i.e. our maximum budget alowed).