The manager of a furniture factory finds that it costs $2200 to manufacture 100 chairs in one day and $4000 to produce 300 chairs in one day.
b)What is the slope of the line in part (a), and what does it represent?
C = m c + b
Where C is the cost of production and c is the number of chairs produced.
Using the given data
2200 = 100m +b
4000 = 300m +b
Subtract one equation from the other
1800 = 200m
m = $9/chair
This is the slope of the line and shows that it costs $9 to produce each extra chair
Now we can solve for the y intercept (b)
2200 = 100*9 +b
2200 = 900 +b
b = $1300
This means that it costs $1300 to start each day before any chairs are produced
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