/sci/ - Science & Math » Thread #11866989

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Anonymous Sat 04 Jul 17:43:30 2020 No.11866989 View Reply Original Report

Quoted By:

Help me understand how to solve this problem
>An airline sells 120 seats for 200 bucks each
>when they charge 3 dollars more, they sell one seat less.
>Make a formula for seats sold per price
>find the price interval for when they sell between 90 and 115 seats

How do I get the formula for seats?

Anonymous

Anonymous Sat 04 Jul 2020 18:40:48 No.11867186 Report

Quoted By: >>11867246 >>11867328

Never mind. I solved it.

For other brainlets out there.
>Seats = 120-x
>Price = 200+3x
>x is a common variable. Find x and replace in the other equation.
>x=120-seats
>Price= 200+3(120-seats)
>Seats=560/3-Price/3
>Solve the inequalities.

Anonymous

Anonymous Sat 04 Jul 2020 18:59:00 No.11867246 Report

Quoted By: >>11867281 >>11867328

>>11867186
What's x and how do you justify introducing it?

Anonymous

Anonymous Sat 04 Jul 2020 19:10:33 No.11867281 Report

Quoted By: >>11867297

>>11867246
Increments. For every 3 dollar increment to the base price of 200, they lose one sale from an expected sale of 120 seats.

The problem was worded this way, so it was hard for me to associate the two equations through the x. That, and i had been priorly doing quadratic equations, so i spent a long time trying to associate the profits with seats sold.

Anonymous

Anonymous Sat 04 Jul 2020 19:15:34 No.11867297 Report

Quoted By:

>>11867281
Yes but you didn't have to multiply it by 3, you could have added it to the base price, still don't get it. They charge 3 dollars more not 3 times as much?

Anonymous

Anonymous Sat 04 Jul 2020 19:28:40 No.11867328 Report

Quoted By:

>>11867186
that just looks horribly wrong.
what he said:
>>11867246

Looks like you're trying to assume a linear function, which might not be correct.
In finance, what you're looking at, is (in)elasticity of demand.

Carrying on with linear assumption, what you have is
y=k*x+n -> 120 = 200*x + n

also

119 = 203*x + n
from this you get x = -3, n =720

this means, with linear assumption (assuming infinite size plane), you will have 720 passengers on a plane when giving free rides, and a few million people when giving away 1 million bucks for each seat just to fly with you.

so between 90 & 115 seats -> price between 210 - 201.67

ASSUMING linear relation.

But you'd want to take more points and interpolate what function gives you best fit. With only 2 points, linear guess is as good as any, unless you have any more info.

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