Understanding Linear Equations in Economics

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Questions and Answers

Which linear equation correctly models the situation where x is the number of pounds of apples bought and y is the amount left on the gift card?

  • y - 15.53 = -1.49(x - 11)
  • y - 3 = -1.49(x - 3.61)
  • y - 3.61 = -1.49(x - 3)
  • y - 3.61 = -1.49(x - 11) (correct)

What does the y-intercept represent in the context of the gift card?

  • The amount left after buying the minimum number of pounds.
  • The amount Rachel spent buying apples.
  • The maximum number of pounds of apples Rachel can buy.
  • The original value of the gift card. (correct)

What is the meaning of the x-intercept in this situation?

  • The total weight of apples Rachel can buy.
  • The maximum weight of apples Rachel can purchase with her gift card.
  • The amount spent if all funds were used to buy apples.
  • The ending value of the gift card when no apples remain. (correct)

What does the slope of the equation represent?

<p>The amount left on the gift card decreasing by $1.49 for each pound bought. (D)</p> Signup and view all the answers

If Rachel bought 5 pounds of apples, how much would be left on her gift card using the derived model?

<p>$10.61 (D)</p> Signup and view all the answers

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Study Notes

Linear Equation for Apple Purchases

  • The correct linear equation that models the situation is y-3.61 = -1.49(x-11)
  • This equation represents the relationship between the number of pounds of apples Rachel buys (x) and the amount left on her gift card (y).

Y-Intercept Meaning

  • The y-intercept represents the original value of the gift card to the Arbor Day Orchard.
  • In this case, the y-intercept is the amount of money on the gift card when Rachel has bought zero pounds of apples.

X-Intercept Meaning

  • The x-intercept represents the maximum number of pounds of apples Rachel can purchase.
  • At the x-intercept, the amount remaining on the gift card is zero, meaning Rachel has spent all of the gift card's value.

Slope Meaning

  • The slope of the line (-1.49) represents the changing value of the gift card.
  • For each pound of apples Rachel buys, the amount remaining on the gift card decreases by $1.49.

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