Consider the total amount you’re willing to spend to start your business. After selling your items, you want your total amount earned to be at least three times the amount you originally spent. (spent was 10,000)
How much money are you hoping to earn from selling your products?
Answer: I am hoping to earn $[dollar amount] from selling my products.
I am hoping to earn $30,000 from selling my products.
Determine the price you want to sell each item for. Note: You may need to adjust the original prices that you came up with in Task 1. handmade jewelry and custom-made clothing. The cost of jewelry is $5 and the cost of custom-made clothing is $20. I will sell the jewelry for $ 20 and custom-made clothing for $50.
Answer: I will sell [product 1] for $ [dollar amount] and [product 2] for $[dollar amount].
I will sell handmade jewelry for $20 and custom-made clothing for $50.
Write an inequality that represents the fact that you want your total earned to be at least three times the amount that you originally spent. Be sure to include the price for each item in this inequality.
Answer: Original Investment $ [dollar amount] 3=[result]
Inequality: [price of product 1]x+[price of product 2]y [result]
Original Investment $10,000
3 times the amount that you originally spent = $30,000
Inequality: (Price of product 1 * Quantity of product 1) + (Price of product 2 * Quantity of product 2) ≥ $30,000
Choose a point that falls in the shaded region for both this inequality and the inequality you found in Task 1. Explain what the x-coordinate and y-coordinate represent and the significance in terms of both cost and money earned of this point falling in the shaded regions.
Answer: Ordered pair in the shaded region for both inequalities ([x-value],[y-value])
The x-value represents [your answer here]
The y-value represents [your answer here]
Since the point lies in the shaded region it means that [your answer here]
Unfortunately, since the inequalities and specific values for the quantities of each product are not provided, it is not possible to determine an exact ordered pair for a point in the shaded region or the significance of that point in terms of cost and money earned.
Choose a point that falls in the shaded region for both this inequality and the inequality you found in Task 1. Explain what the x-coordinate and y-coordinate represent and the significance in terms of both cost and money earned of this point falling in the shaded regions. x value 20 dollars, y value 50 investment 30,000
Answer: Ordered pair in the shaded region for both inequalities ([x-value],[y-value])
The x-value represents [your answer here]
The y-value represents [your answer here]
Since the point lies in the shaded region it means that [your answer here]
The ordered pair in the shaded region for the inequalities is (20, 50).
The x-value represents the price of product 1, which is $20. The y-value represents the price of product 2, which is $50.
Since the point (20, 50) lies in the shaded region, it means that if you sell product 1 for $20 and product 2 for $50, and you sell enough quantities of each product such that the total earnings exceed the threshold of $30,000, then you would meet your goal of earning at least three times the amount you originally spent. This point falling in the shaded region implies a feasible scenario where you can achieve your desired earnings.
What is the ideal number of items you should produce and sell? Why?
Answer: The ideal number of items I should produce is [number], because [reason why]