(i) If price per unit, p, is plotted on the horizontal axis and the quantity supplied q is plotted on the vertical axis, determine the slope-intercept form of the equation of the line which passes through these two points. (iii) Predict the weekly supply if the market price equals $25 per unit.
(ii) Interpret the slope of the equation in this application.
(b) Global Insurance Company has four salespeople working in Hill town. The number of policies sold during the last month is given in matrix A, as
O'Malley
8
6
4
0
Capont
7
9
3
2
Steomberg
6
11
2
1
Deutsch
8
5
0
3
Automobile
Life
Health
Homeowners
i) Let S = [1 1 1 1]. Find SA and interpret its elements.
ii) Find AS' and interpret its elements.
A=
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Answer:
i) If price per unit, p, is plotted on the horizontal axis and the quantity
supplied q is plotted on the vertical axis, determine the slope-intercept form
of the equation of the line which passes through these two points.
(ii) Interpret the slope of the equation in this application.
(iii) Predict the weekly supply if the market price equals $25 per unit.
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