Question

(24 points)Slope-Intercept formA charity organization had to sell a few tickets to their fundraiser just to cover necessary production costs. After selling 10 tickets, they were still at a net loss of $800 (due to the production costs). They sold each ticket for $70.Let y represent the net profit (in dollars) when they have sold x tickets.Complete the equation for the relationship between the net profit and number of tickets sold.y=( this is for a quiz so lease answer correctly)

Answer 1

Given : After selling 10 tickets, they were still at a net loss of $800 (due to the production costs). They sold each ticket for $70

To find : Complete the equation for the relationship between the net profit and number of tickets sold

Solution:

Each ticket Sold  for  = $ 70

Sold 10 Ticket  for 10 * 70 = 700 $

Net loss = $ 800

=> Production Cost  = 700 + 800 = $ 1500

y represent the net profit (in dollars) when they have sold x tickets

Net Profit = tickets Sold * ticket price  - Production Cost

=> y  =  70x  - 1500

y  =  70x  - 1500  is the  the equation for the relationship between the net profit and number of tickets sold

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