Remember the form of a quadratic equation: ax2+bx+c
You will use: W=-.01×2+100x+c where (-.01×2+100x) represents the store’s variable costs and c is the store’s fixed costs.
So, W is the stores total monthly costs based on the number of items sold, x.
Think about what the variable and fixed costs might be for your fictitious storefront business – and be creative. Start by choosing a fixed cost, c, between $5,000 and $10,000, according to the following class chart:
So, W is the stores total monthly costs based on the number of items sold, x.
Think about what the variable and fixed costs might be for your fictitious storefront business – and be creative. Start by choosing a fixed cost, c, between $5,000 and $10,000, according to the following class chart:
S-T $8600-$9200
Your monthly cost is then, W = -.01×2+100x+c.
Substitute the c value chosen in the previous step to complete your unique equation predicting your monthly costs.
Next, choose two values of x (number of items sold) between 100 and 200. Again, try to choose different values from classmates.
Plug these values into your model for W and evaluate the monthly business costs given that sales volume
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