The equation y= 0.003x - 0.50 can be used to determine the approximate, y in dollars, of producing x items. How many items must be produced so the profit will be at least $2370?
To determine the number of items that must be produced to ensure a profit of at least $2370, we need to solve the equation y = 0.003x - 0.50 for x.
To do that, we will substitute 2370 for y in the equation and solve for x:
2370 = 0.003x - 0.50
To isolate the variable x, we will add 0.50 to both sides of the equation:
2370 + 0.50 = 0.003x
Next, we need to divide both sides of the equation by 0.003 to solve for x:
(2370 + 0.50)/ 0.003 = x
Now we can calculate this expression to find the value of x:
(2370 + 0.50)/ 0.003 ≈ 790166.67
Therefore, approximately 790,167 items must be produced to ensure a profit of at least $2370.