Answer:
the answer is below
Step-by-step explanation:
Demand seems to be based on price.
Therefore we must consider two things:
that "x" is equal to the price and that "y" is equal to the average attendance.
Thus:
the two points would be:
(x1, y1) = (10,27000)
(x2, y2) = (6.39000)
The slope of a straight line is given by:
m = (y2-y1) / (x2-x1)
we replace:
m = (39000 - 27000) / (6 - 10) = 12000 / -4 = -3000
The equation of a straight line can be expressed like this
y = m * x + b.
where
m is the slope and b is the y-intercept.
we replace
y = -3000 * x + b.
To solve for b, replace x and y with the value of one of the points on the line.
We choose (6.39000). and we replace:
39000 = -3000 * 6 + b
39000 = -18000 + b
39000 + 18000 = b
b = 57000.
if we replace we have:
the equation becomes y = -3000 * x + 57000
since it is the demand and * x is the price.
t = d (x), therefore the equation becomes
d (x) = -3000 * x + 57000.
d (x) = 57000 - 3000 * x.
when x = 0, the price is 0 and the demand will be 57000, which will be more than the stadium can contain because the stadium can only contain 50,000.
So:
when x = 6, the price is 6 and the demand is 57000 - 18000 = 39000.
when x = 10, the price is 10 and the demand is 57000 - 30000 = 27000.
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