00:01
Suppose that 650 pounds of coffee are sold when the price is $4 per pound, and that $400 are sold when the price is $8 per pound.
00:13
What i'm going to do is look at this as ordered pairs, where our independent variable is going to be the amount that is sold for, and the amount we're selling is going to be our dependent variable, because the amount we sell depends upon the price.
00:29
So these would be our ordered pairs.
00:32
So we want to find the slope, and we want to find the equation of the line.
00:36
So let's first find the slope by subtracting our y values, subtracting our x values.
00:41
So i'm going to say 650 minus 400 over 4 minus 8.
00:45
So it's going to be when i subtract this, 250 over negative 4, which is going to be a negative 62 .5.
00:59
So that means that for every dollar increase, there is going to be a drop of 62 .5 pounds of coffee.
01:09
That's what that means.
01:11
Every dollar increase will result in a drop of $62 .5 pounds of coffee sold.
01:20
Now let's get this in our slope intercept form.
01:22
So i'm going to go y equals mx plus b...