Answer:
The equation for amount of money made by ticket sales is
[tex]y=-\frac{1}{55}x+444.31818[/tex]
Step-by-step explanation:
We are given
An outdoor concert venue has an average of 22,650 attendees when the price per ticket is $32.50
so, at x=22650 , y=32.50
For every ticket price increase of $5 the number of attendees decreases by an average of 275
so, we get slope as
[tex]m=\frac{5}{-275}[/tex]
[tex]m=-\frac{1}{55}[/tex]
now, we can use slope intercept form of line
[tex]y=mx+b[/tex]
we can plug it
[tex]y=-\frac{1}{55}x+b[/tex]
we can plug
x=22650 , y=32.50
and then we can find b
[tex]32.50=-\frac{1}{55}\times 22650+b[/tex]
[tex]b=444.31818[/tex]
now, we can plug it back
and we get
So, the equation for amount of money made by ticket sales is
[tex]y=-\frac{1}{55}x+444.31818[/tex]
