The cost function is an illustration of a linear function
The equation of the cost function is C(x) = 35 + 0.5x
The given parameters are:
[tex]Rentals = 35[/tex] -- the cost of renting a cooler
[tex]Rate = 0.5[/tex] --- the rate per bottle
Assume the number of bottles in a cooler is x.
The cost function for the bottles in a cooler would be:
[tex]C(x) = Rentals + Rate \times x[/tex]
So, we have:
[tex]C(x) = 35 + 0.5\times x[/tex]
Evaluate the products
[tex]C(x) = 35 + 0.5x[/tex]
Hence, the equation is [tex]C(x) = 35 + 0.5x[/tex]
Read more about linear functions at:
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