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?
could anyone help me out?this is for my exam, ireally needto know how to get this problem right. ty!
Y = 0.003X - 0.50 = $2370.
0.003X - 0.50 = 2370,
0.003X = 2370 + 0.50 = 2370.50,
X = 910,167 Items.
Sure, I'd be happy to help you with this problem!
To determine the number of items that must be produced so that the profit will be at least $2370, we first need to understand the equation provided.
The given equation is: y = 0.003x - 0.50
In this equation, y represents the profit in dollars, and x represents the number of items produced.
To solve the problem, we need to find the value of x when the profit (y) is at least $2370.
Here's how we can do that:
Step 1: Set up the equation
Since the profit (y) should be at least $2370, we can write the equation as:
2370 ≤ 0.003x - 0.50
Step 2: Solve for x
To solve for x, let's isolate it on one side of the equation. We can do this by adding 0.50 to both sides of the equation:
2370 + 0.50 ≤ 0.003x
Combining like terms:
2370.50 ≤ 0.003x
Step 3: Divide both sides by 0.003 to solve for x:
2370.50 / 0.003 ≤ x
Calculating the division:
x ≥ 790,166.67
So, to make a profit of at least $2370, you would need to produce at least 790,167 items (rounded to the nearest whole number).
Please note that producing a fractional number of items might not be practical, so you might need to adjust the number based on the context of the problem.
I hope this explanation helps you understand how to solve this problem! Good luck with your exam!