# MATH103

Mathematics for Business and Economics - I
Chapter 3 - Lines, Parabolas, and Systems

Section 3-1 - Lines
Many relationships between quantities can be represent conveniently by straight lines. The slope of a nonvertical line that passes through the points P(x1, y1) and Q(x2, y2) is denoted by m and is defined by

vertical change m Horizontal change y2  y1  . x2  x1

y y2 Q(x2, y2) Vertical Change

y1

P(x1, y1) x1 x2

x

Horizontal Change

Vertical and Horizontal Lines
Either the “rise” or “run” could be zero
y m is undefined m (slope) is positive

m=0

m (slope) is negative x

3) is sketched here. Solution Any two points determine a line. 3). –1) and Q(3. Find and interpret the slope of the line. the graph of the line passing through the points P(1. Vertical Change =4 Horizontal Change = 2 .EXAMPLE 1 Finding and Interpreting the Slope of a Line Sketch the graph of the line that passes through the points P(1. –1) and Q(3.

The graph is a straight line rising by 2 units for every one unit we go to the right. 3) change in y -coordinates y2  y1 m  change in x-coordinates x2  x1  3   1  3  1  4  2  3  1 3 1 2 Interpretation The slope of this line is 2. .EXAMPLE 1 Finding and Interpreting the Slope of a Line Solution continued P(1. –1) and Q(3. this means that the value of y increases by exactly 2 units for every increase of 1 unit in the value of x.

EXAMPLE 2 Finding and Interpreting the Slope of a Line .

The point-slope form of the equation of a line is y  y1  m( x  x1 ) where m is the slope and (x1. . y1) is a given point.Equations of Lines Point-Slope Form: To find the equation of a line. when you only have two points.

Solution We have x1 = 1. y1 = –2. –2) and with slope m = 3. Then solve for y. and m = 3. y  y1  m x  x1  y  2  3x  3 y  3x  5 y  2   3x  1 .EXAMPLE 1 Finding an Equation of a Line with Given Point and Slope Find the point–slope form of the equation of the line passing through the point (1.

EXAMPLE 2 Finding an Equation of a Line with Given Point and Slope Find the equation of a line that passes through the point (1.-3) with slope of 2 .

EXAMPLE 3 Finding an Equation of a Line Passing Through Two Given Points Find the point–slope form of the equation of the line l passing through the points (–2. Then solve for y. y  y1  m x  x1  6 y  7  x  3 5 6 18 y7 x 5 5 6 17 y x 5 5 . y1 = 7. m  3  2  3  2 5 We have x1 = 3. find the slope. 7). 1) and (3. Solution 7 1 6 6   First.

x2) = (4.16).16).EXAMPLE 4 Finding an Equation of a Line with two Given Points Find the equation of the line through the points (-5. Solution: 16  7 9 m  1 4  (5) 9 Now use the point-slope form with m = 1 and (x1. y  16  1( x  4) y  x  4  16  x  12 .7)).7) and (4. (We could just as well have used (-5.

Solution The line passes through (0. y  y1  m x  x1  y  b  m x  0  y  b  mx y  mx  b . Then solve for y.EXAMPLE 5 Finding an Equation of a Line with a Given Slope and y-intercept Find the point–slope form of the equation of the line with slope m and y-intercept b. b).

SLOPE–INTERCEPT FORM OF THE EQUATION OF A LINE The slope-intercept form of the equation of the line with slope m and y-intercept b is y  mx  b. EXAMPLE 1 Slope – Intercept Form .

EXAMPLE 2 Find the Slope and y-intercept of a line .

EXAMPLE Equations of Horizontal and Vertical Lines .

and any horizontal line is perpendicular to any vertical line. Any two vertical lines are parallel. .respectively.PARALLEL AND PERPENDICULAR LINES Let l1 and l2 be two distinct lines with slopes m1 and m2. Then l1 is parallel to l2 if and only if m1 = m2. l1 is perpendicular l2 to if and only if m1•m2 = –1.

Section 3-2 Applications and Linear Functions .

EXAMPLE 1 Finding a Demand Equation .

Note : The graph of a linear function can be drawn by using the same procedures as drawing a line. .

EXAMPLE 2 Diet for Hens .

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y=mx+b We know two points on the line: (1.159) and (3.EXAMPLE Example3 A business copier repair company charges a fixed amount plus an hourly rate for service. find the linear function that describes the price of a service call when x is the number of hours of service We need to find the equation for a line of the form. If a customer is billed \$159 for a onehour service call and \$287 for a three hour service call.287) So. m = (287 – 159)/(3 – 1) = 64 Use point-slope approach to find the line ◦ (y – y1) = 64(x – x1) ◦ y = 287 – 64(3) + 65x ◦ y = 95 + 64x .

y2 ) =(25.12) . y1 ) = (40. Find the price per unit when 30 units are demanded Solution: The Points are: ( x1 . Find the demand equation Assuming that is linear.y1 18  12 2 m   x2 .18) Slope Formula: x represent q and y represent p y2 .EXAMPLE 4 Finding a Demand Equation Example : Suppose consumer will demand 40 units of a Product when the price is \$12 per unit and 25 units when The price is \$18 each. and ( x2 .x1 25  40 5 Hence an equation of the line is 2 p  12    q  40  5 2q p  28 5 .

Q intercept p=0 then q=70 P 28 P 2 q  28 5 70 Q .When q=30  2 P   .30  28  12  28  16 5 Graph of the demand equation p intercept q=0 then p=28.

EXAMPLE 5 Finding a Demand Equation .

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35). assuming that price p and quantity q are linearly related Solution:The Points are:( x1 . Slope Formula: x represent q and y represent p y2 ) =(35. Find the supply equation. and ( x2 .30) p2  p1 30  35 1 m   q2  q1 35  50 3 Hence the equation of the line is 1 1 55 p  35   q  50   q  3 3 3 . y1 ) =(50.EXAMPLE 6 Finding a Supply Equation Example Suppose a manufacturer of shoes will place on the market 50 (thousand pairs) when the price is 35 (dollars per pair) and 35 when the price is 30.

EXAMPLE 7 Finding a Supply Equation .

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70) has slope m 70  40 3 20  10 So an equation for the line is: c  40  3  q  10   3q  10 If q=35 then c=3(35)+10=115 . If cost c is linearly related to output q. Solution:The line passing through (10. Find the cost to produce 35 units.40) and (20.EXAMPLE 8 Finding a Cost Equation Example: Suppose the cost to produce 10 units of a product is \$40 and the cost of 20 units is \$ 70. find a linear equation relating c and q.

we have two ordered pairs (0. when t = 0.800. If its value is depreciated linearly. We find the slope of the line using the slope formula. Thus.000 after 10 years.000 and when t = 10. The y intercept is already known The slope is (2000-20. . V = 2.000.000.000) and (10.000 and will have a scrap value of \$2.000 Therefore.800t + 20. by slope-intercept form(y=mx+b) equation is V(t) = .1.000.EXAMPLE 10 Finding an Equation Office equipment was purchased for \$20. V = 20. so the y intercept is b=20. 20. V = 20. find the linear equation that relates value (V) in dollars to time (t) in years: Solution: When t = 0. 2000).000)/(10 – 0) = -1.