BackCollege Algebra Test 1 Review – Step-by-Step Guidance
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Q1. Find the slope and y-intercept of
Background
Topic: Linear Equations – Slope and Intercept
This question tests your ability to rewrite a linear equation in slope-intercept form and identify the slope and y-intercept.
Key Terms and Formulas:
Slope-intercept form:
Slope (): The coefficient of in the slope-intercept form.
Y-intercept (): The constant term in the slope-intercept form.
Step-by-Step Guidance
Start by isolating in the equation .
Add to both sides to get .
Divide both sides by $7yy = mx + b$.
Identify the slope () and y-intercept () from your new equation.
Try solving on your own before revealing the answer!
Q2. Find the x- and y-intercepts of
Background
Topic: Intercepts of Linear Equations
This question checks your understanding of how to find where a line crosses the x-axis and y-axis.
Key Terms and Formulas:
X-intercept: The point where .
Y-intercept: The point where .
Step-by-Step Guidance
To find the x-intercept, set in the equation and solve for .
To find the y-intercept, set in the equation and solve for .
Write your answers as points: for the x-intercept and for the y-intercept.
Try solving on your own before revealing the answer!
Q3. Find the slope of the line between and .
Background
Topic: Slope Between Two Points
This question tests your ability to use the slope formula for two points on a line.
Key Terms and Formulas:
Slope formula:
Step-by-Step Guidance
Label your points: as and as .
Substitute the values into the slope formula: .
Simplify the numerator and denominator separately before dividing.
Try solving on your own before revealing the answer!
Q4. Write the slope-intercept form of the line that goes through and has slope .
Background
Topic: Writing Equations of Lines
This question asks you to use a point and a slope to write the equation of a line in slope-intercept form.
Key Terms and Formulas:
Slope-intercept form:
Point-slope form:
Step-by-Step Guidance
Start with the point-slope form: .
Plug in the given point and the slope .
Simplify the equation to get it into the slope-intercept form .
Try solving on your own before revealing the answer!
Q5a. Assuming the trend is linear, write an equation that gives the number of adults living alone in year , with corresponding to the year 1960.
Background
Topic: Linear Modeling
This question tests your ability to create a linear model from two data points.
Key Terms and Formulas:
Linear equation:
Slope ():
Step-by-Step Guidance
Assign the years to values: for 1960 and for 2020.
Assign the corresponding values: (1960), (2020).
Calculate the slope using the two points.
Use one point and the slope to write the equation in form.
Try solving on your own before revealing the answer!
Q5b. Assuming the linear trend continues, estimate the number of adults living alone in the year 2025.
Background
Topic: Linear Extrapolation
This question asks you to use your linear model to predict a future value.
Key Terms and Formulas:
Use the equation from part (a).
For 2025, (since for 1960).
Step-by-Step Guidance
Substitute into your equation from part (a).
Simplify to find the estimated number of adults living alone in 2025.
Try solving on your own before revealing the answer!
Q6a. If fixed costs are $200 items cost $2000$ to produce, find the cost function.
Background
Topic: Linear Cost Functions
This question tests your ability to construct a linear cost function from fixed and variable costs.
Key Terms and Formulas:
Cost function:
Fixed cost (): The cost when .
Variable cost per item (): The additional cost per item produced.
Step-by-Step Guidance
Let be the total cost to produce items.
You know (fixed cost) and .
Set up two equations and solve for the variable cost per item ().
Write the cost function .
Try solving on your own before revealing the answer!
Q6b. Find the marginal cost.
Background
Topic: Marginal Cost
This question asks you to identify the cost to produce one additional item, which is the slope of the cost function.
Key Terms and Formulas:
Marginal cost: The coefficient of in the cost function .
Step-by-Step Guidance
From your cost function in part (a), identify the value of .
Try solving on your own before revealing the answer!
Q6c. Find the average cost to produce 150 items.
Background
Topic: Average Cost
This question tests your ability to compute the average cost per item for a given production level.
Key Terms and Formulas:
Average cost:
Step-by-Step Guidance
Find using your cost function from part (a).
Divide by $150$ to get the average cost per item.
Try solving on your own before revealing the answer!
Q7a. The revenue (in millions of dollars) from the sale of units at a home supply outlet is given by . The profit (in millions of dollars) from the sale of units is given by . Find the cost equation.
Background
Topic: Revenue, Cost, and Profit Functions
This question tests your understanding of the relationship between revenue, cost, and profit.
Key Terms and Formulas:
Profit function:
Cost function:
Step-by-Step Guidance
Write the equation .
Rearrange to solve for : .
Substitute the given expressions for and and simplify.
Try solving on your own before revealing the answer!
Q7b. What is the cost of producing seven units?
Background
Topic: Evaluating Cost Functions
This question asks you to use the cost function from part (a) to find the cost for a specific value of .
Key Terms and Formulas:
Use from part (a).
Step-by-Step Guidance
Plug into your cost function .
Simplify to find the cost for seven units.
Try solving on your own before revealing the answer!
Q7c. What is the break-even point?
Background
Topic: Break-Even Analysis
This question tests your ability to find the production level where revenue equals cost (or profit is zero).
Key Terms and Formulas:
Break-even point: Set and solve for .
Step-by-Step Guidance
Set using the given profit function.
Solve the resulting equation for to find the break-even quantity.
Try solving on your own before revealing the answer!
Q8a. Let the supply and demand for bananas in cents per pound be given by supply: , demand: . Find the equilibrium quantity.
Background
Topic: Supply and Demand – Equilibrium
This question tests your ability to find the equilibrium point where supply equals demand.
Key Terms and Formulas:
Equilibrium: Set supply equal to demand and solve for .
Step-by-Step Guidance
Set .
Solve for to find the equilibrium quantity.
Try solving on your own before revealing the answer!
Q8b. Find the equilibrium price.
Background
Topic: Equilibrium Price
This question asks you to use the equilibrium quantity to find the corresponding price.
Key Terms and Formulas:
Plug the equilibrium into either the supply or demand equation to find .
Step-by-Step Guidance
Substitute the equilibrium from part (a) into or .
Simplify to find the equilibrium price.
Try solving on your own before revealing the answer!
Q9. For , determine if the parabola opens upward or downward and find its vertex.
Background
Topic: Quadratic Functions – Vertex Form
This question tests your understanding of the vertex form of a quadratic and how to interpret its graph.
Key Terms and Formulas:
Vertex form:
Vertex:
Direction: If , opens upward; if , opens downward.
Step-by-Step Guidance
Identify , , and from the given function.
Determine the direction the parabola opens based on the sign of .
State the vertex as .
Try solving on your own before revealing the answer!
Q10a. A store owner finds that, at a price of dollars, units of a certain item will be sold. The cost function is linear with fixed costs of $5000 per item. Find the revenue function.
Background
Topic: Revenue Functions
This question tests your ability to write a revenue function using price and quantity.
Key Terms and Formulas:
Revenue function:
Step-by-Step Guidance
Write .
Substitute into the formula.
Expand and simplify the expression for .
Try solving on your own before revealing the answer!
Q10b. Find the cost function.
Background
Topic: Cost Functions
This question asks you to write a linear cost function from fixed and variable costs.
Key Terms and Formulas:
Cost function:
is the variable cost per item, is the fixed cost.
Step-by-Step Guidance
Identify the fixed cost ($5000).
Write the cost function as .
Try solving on your own before revealing the answer!
Q10c. Find the profit function.
Background
Topic: Profit Functions
This question tests your ability to find profit as the difference between revenue and cost.
Key Terms and Formulas:
Profit function:
Step-by-Step Guidance
Use your expressions for and from parts (a) and (b).
Subtract from to get .
Simplify the resulting expression.
Try solving on your own before revealing the answer!
Q10d. Find the break-even point(s).
Background
Topic: Break-Even Analysis
This question asks you to find the value(s) of where profit is zero.
Key Terms and Formulas:
Set and solve for .
Step-by-Step Guidance
Set your profit function equal to zero.
Solve the resulting equation for to find the break-even quantity or quantities.
Try solving on your own before revealing the answer!
Q10e. Find the number of items that leads to the maximum profit.
Background
Topic: Maximizing Quadratic Functions
This question tests your ability to find the vertex of a downward-opening parabola to maximize profit.
Key Terms and Formulas:
For , the maximum occurs at if .
Step-by-Step Guidance
Identify and from your profit function.
Use the formula to find the value that maximizes profit.
Try solving on your own before revealing the answer!
Q10f. Find the maximum profit.
Background
Topic: Maximum Value of a Quadratic
This question asks you to evaluate the profit function at the value found in part (e).
Key Terms and Formulas:
Plug the maximizing from part (e) into .
Step-by-Step Guidance
Substitute the value from part (e) into your profit function.
Simplify to find the maximum profit.