From this, we can use the formula y = mx + b & substitute the values for x & y from one of the two previous equations into the formula in order to obtain the values of m & b for the final equation. Here is an example of the working out as displayed below:
Firstly, using the first or second equation, we make either m or b the subject. Here I have used the first equation and made m the subject:
Equation No. 1 - y = mx + b 90 = m ( 40 ) + b 40m = 90 - b m = ( 90 - b ) / 40
Now, make b the subject in the second equation as displayed below:
Equation No. 2 - y = mx + b 210 = m ( 80 ) + b 210 = 80m + b b = 210 - 80m
Then, substitute m from the first equation into the second equation.
Equation No. 2 - b = 210 - 80m b = 210 - 80 [ ( 90 - b ) / 40 ] b = 210 - [ 80 ( 90 - b ) / 40 ] b = 210 - 2 ( 90 - b ) b = 210 - 180 - 2b b - 2b = 30 - b = 30 b = - 30
Now, substitute b from the second equation into the first equation.
Equation No. 1 - m = ( 90 - b ) / 40 m = ( 90 - ( - 30 ) / 40 m = ( 90 + 30 ) / 40 m = 120 / 40 m = 3
Through this, we have established that:
m = 3 b = - 30
Therefore, the final equation to model the final profit, y, based on the number of hotdogs sold, x, is as follows: