Which inequality models this problem?
Jason started a hat-making business. He spent $750 to purchase supplies to get started and he uses about $3.50 worth of supplies per hat made. Jason charges $15 for each hat. Let h represent the number of hats.
What is the minimum number of hats Jason will need to sell to make a profit?
The inequality that models this problem is:
Revenue ≥ Total Cost
Revenue is calculated by multiplying the selling price per hat ($15) by the number of hats (h): Revenue = 15h
Total Cost is calculated by adding the initial cost of supplies ($750) to the cost of supplies used per hat ($3.50) multiplied by the number of hats (h): Total Cost = 750 + 3.50h
So, the inequality can be written as:
15h ≥ 750 + 3.50h
To find the minimum number of hats Jason will need to sell to make a profit, solve this inequality for h.