BUS 111 Lecture Notes - Lecture 1: Break Even, Marginal Cost, Fixed Cost
Document Summary
Lines allow us to model a relationship between 2 (or more) quantities. Lines are linear equations typically in 2- variables. They usually appear as: y=mx+b slope intercept form ax+by=c standard form y1 + y2 = m(x1 + x2) point slope form . Def: the slope (m) is the rate of change (roc) of a line. M= --------- *slope is always read left to right* Note: a slope of 0 means the line is horizontal or flat. The x-intercept is the point where the line crosses the x-axis (or where y=0) The y-intercept is the point where the line crosses the y-axis (or where x=0) Find the equation of the line passing through (-1,3) and (2,-1) 1-2 3 to point slope: y-3= -4/3(x- -1) Suppose the profit of a product is 17,500 in 1998 and 14,200 in 2003. 2003 - 1998 5 y-17,500= -660(x-1998) **distribute** y-17,500= -660x -1,318,680 find x- intercept.
