Task 2
Consider the total amount you’re willing to spend to start your business. After selling your items, you want your total amount earned to be at least three times the amount you originally spent.
a. How much money are you hoping to earn from selling your products?
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b. Determine the price you want to sell each item for. Note: You may need to adjust the original prices that you came up with in Task 1.
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c. Write an inequality that represents the fact that you want your total earned to be at least three times the amount that you originally spent. Be sure to include the price for each item in this inequality.
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d. Graph your inequality. Be sure to label your graph and shade the appropriate side of the line.
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e. Choose a point that falls in the shaded region for both this inequality and the inequality you found in Task 1. Explain what the x-coordinate and y-coordinate represent and the significance in terms of both cost and money earned of this point falling in the shaded regions.
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f. What is the ideal number of items you should produce and sell?
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b Why?
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a. The amount of money I am hoping to earn from selling my products is 3 times the amount I originally spent.
b. To determine the price I want to sell each item for, I will need to adjust the original prices I came up with in Task 1.
c. The inequality representing the fact that I want my total earned to be at least three times the amount I originally spent with the price for each item is:
3x ≥ y, where x represents the number of items produced and sold and y represents the total amount spent.
d. Graph of the inequality:
[Graph]
e. One point that falls in the shaded region for both this inequality and the one found in Task 1 could be (10, 30). In this point, the x-coordinate represents the number of items produced and sold (10 items) and the y-coordinate represents the total amount spent and earned ($30). The significance of this point falling in the shaded regions is that it meets the criteria of earning at least three times the amount originally spent.
f. The ideal number of items I should produce and sell would be 10 items.
g. This is because producing and selling 10 items would result in a total earned amount of $30, which is three times the amount originally spent.