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Does anyone known what the meanings of the 12 and the 10,000 in this equation?
Annual profit in thousands of dollars is given by the function, P(x) = 12x + 10,000, where x is the number of items sold in thousands, x ≥ 10.
1.describe the meaning of the number 12 in the formula
2.describe the meaning of the number 10,000 in the formula
2 Answers
- 1 decade ago
This is a linear algebra problem.
The first number (12) describes the rate of change or the slope... in this formula it's describing at what rate the profit is changing. So for every 10,000 items sold, you make $12 in profit.
The second number (10,000) describes the base amount that you start with when you have sold no items at all. This is how much money you began with when you have no profit or loss.
Source(s): http://en.wikipedia.org/wiki/Linear_equation - PopeLv 71 decade ago
The 12 is the profit in thousands of dollars for each thousand items sold, which is equivalent to the profit per item. The 10,000 is a constant profit that is reaped independent of any actual sales. That too is in thousands of dollars, so the constant profit is $10 million. The source of the constant profit might be, for example, a government grant, minus overhead expenses. This is not my field, but normally I would expect the constant term to be negative. This would indicate a profit of $10 million even if there are no sales at all.
