Manager at the furniture factory finds that is costs $2200 to produce 100 chairs in one day and $4600 to produce 300 chairs in one day.
A) Suppose that relationship between cost (y, in dollars) and number of chairs produced (x) is linear, determine the equation which expresses this relationship.
B) Find the slope of line in part (a)?
C) What does it signify ?
i) Maximum number of chairs which can be produced.
ii) Cost of producing each additional chair.
iii) Rate at which the fixed daily costs are decreasing.
iv) Rate at which the fixed daily costs are increasing.
v) Fixed daily costs of operating the factory.
D) Determine the y-intercept of this line?