Module 3 – Polynomial and Rational Functions
3.1 – Linear and Quadratic Functions
Introduction
A shoe retailer finds that she can sell (on average) 50 pairs per week
of a certain style when the price is $50 per pair, but that for each $5
she raises the price she loses 4 sales.
If this relation persists over a range of prices then a plot of number
of sales vs. price would produce a straight line, and so we say there
is a linear relationship between price and sales. But the store owner’s
weekly revenue is obtained by multiplying the price she charges by the
number of pairs she sells, and one goes down as the other goes up so
the combined effect is not so obvious. One of the things you will learn
in this section is how to analyse the above situation so that you can
tell the retailer what price to charge in order to maximize her weekly
revenue.
What to Do
1. Use the
Study Notes and Discussion re Linear Functions
to guide your review Section 2.3 of the text, and follow
the instructions regarding Further Practice to confirm your
understanding.
2. Use the
Study Notes and Discussion re Quadratic Functions
to guide your reading of Section 2.6 of the text, and follow the
instructions regarding Further Practice in those notes as well.
3. When you feel that you have achieved the learning
objectives for this section, move on to the next.