Let Price=x value (independent variable)
Let Sales=y value (dependent variable)
use y=mx+ b, where m is slope and b is y-intercept.
Determine value of m:
m=(900 - 950)/(10-8) or -50/2 or -25
Determine value of b:
Use the x,y coordinates of (8, 950)
950=-25(8) + b
1150=b
Final Answer:
y=-250x + 1150, where y is the sales revenue generated and x is the selling price per item.