Mathematically similar to a linear relationship is the concept of a linear function. In one variable, a linear function can be written as follows: f(x)=mx+bwhere:m=slopeb=y-intercept\begin{aligned} &f(x) = mx + b \\ &\textbf{where:}\\ &m=\text{slope}\\ &b=\text{y-intercept...
given function is 5x + 6 = 11 5x = 11 – 6 x = \(\begin{array}{l}\frac{5}{5}\end{array} \) = 1 therefore, x = 1. also access ncert solutions for class 10 maths chapter 3 pair of linear equation in two variable ncert exemplar for class 10 maths chapter 3 pair of ...
The objective function is essentially the contribution formula as the objective is to maximise contribution and therefore profit. Contribution = ($30 x units of X produced) + ($40 x units of Y produced), therefore: C = 30X + 40Y The next step is to define the...
The formula or the standard form of an equation having only 1 variable is given as ax + b = 0. In this, there is only 1 variable, i.e. x. Q3 How to easily solve any equation having one variable? First, put the variable on the left-hand side and the numerical values on the rig...
2. his objective is to make as much profit as possible. This is called the profit function. Turnover = 140 X (€ 140 per rosé basket) + 150 Y (€ 150 per white wine basket). In a mathematical formula that is P (Profit function) = 140X + 150Y ...
Simple linear regression is a function that allows an analyst or statistician to make predictions about one variable based on the information that is known about another variable. Linear regression can only be used when one has two continuous variables—an independent variable and a dependent variable...
The Profit-Maximizing Markup Formula with Linear Demand Textbook discussions of pricing practices often include explanations of cost-plus or markup pricing. The implication of the profit-maximizing markup formula is that more elastic demand gives rise to a smaller markup. The inverse relationship ...
There are a few contributions addressing demand elasticity.Alibeyg et al. (2016)used a step-wise linear functionto model price sensitive demands.O’Kelly et al. (2015b)considered a profit-maximizing model with a concave-shaped profit function subject to linear constraints. Their formulation takes...
Linear Equations R squared Formula in Linear Regression Coefficient of Determination Linear Regression Equation The measure of the extent of the relationship between two variables is shown by thecorrelation coefficient. The range of this coefficient lies between -1 to +1. This coefficient shows the st...
p=−x2+130x−3000p=−x2+130x−3000is a profit formula for a small business. Find the set of x-values that will keep this profit positive. Real-World Applications In chemistry the volume for a certain gas is given byV=20T,V=20T,where V is measured in cc and T is...