Please help i need to find an equation for word problem

In summary, the problem asks for the ticket price and number of tickets sold that will maximize the airline's revenue. To solve this, the dependent variable should be set as the revenue, and the equation should be in y= form. The equation $200-10x=300+30x may not be the correct setup. After re-reading the question, the dependant variable should be the revenue.
  • #1
katiemarie
2
0

Homework Statement



An airline finds that if it prices a ticket at $200, it will sell 300 more tickets per day. It estimates that each $10 price reduction will result in 30 more tickets sold per day. Find the ticket price and number of tickets sold that will maximize the airline's revenue. Use calculus to solve.

Homework Equations



This is what I need help with; I know how to find the maximum and minimum of an equation, but I can't figure out how to make an equation for this problem. It needs to be in y= form for me to solve but I'm struggling to figure it out.

The Attempt at a Solution


I came up with $200-10x=300+30x
but I can't work with that since it's not in y= and I don't think I set the variables up right anyways. Please help! I can't find the max revenue until I find the actual equation! Thanks
 
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  • #2
The first step is to reread the question part of the problem statement: "Find the ticket price and number of tickets sold that will maximize the airline's REVENUE." This part gives you a strong indication as to what your dependant (y) variable should be.
 
  • #3
Okay, I'm just now figuring out this site, but I figured it out so thanks!
 

Related to Please help i need to find an equation for word problem

1. What is an equation?

An equation is a mathematical statement that shows the relationship between two or more quantities. It typically includes variables, numbers, and mathematical operations.

2. How do I find an equation for a word problem?

To find an equation for a word problem, you will need to carefully read and analyze the given information. Identify the known and unknown quantities, and use them to create an equation that represents the relationship between them.

3. What are the steps to solve a word problem using an equation?

The steps to solve a word problem using an equation include: 1) Understand the problem by reading it carefully, 2) Identify the known and unknown quantities, 3) Create an equation that represents the relationship between the quantities, 4) Solve the equation using appropriate mathematical operations, and 5) Check your solution to ensure it makes sense in the context of the problem.

4. Can I use any equation to solve a word problem?

No, it is important to use an equation that accurately represents the relationship between the given quantities in the word problem. Using an incorrect equation can lead to an incorrect solution.

5. Are there different types of equations for different types of word problems?

Yes, there are different types of equations that can be used to solve different types of word problems. For example, linear equations are used to solve problems involving a constant rate of change, while quadratic equations are used to solve problems involving a parabolic relationship. It is important to choose the appropriate equation for the given word problem.

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