math pp

math pp

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  • One day, two soon-to-be economists were studying for their final exam. One of the topics was relating math to population dynamics.
  • Melissa relax! I can teach you! It's actually really simple.
  • Are you sure? Jackie, the test is in two days!
  • You're fine. Alright, let's take example 57. 
  • Example 57:  An entrepreneur was selling  two of her designed products at a big event. She sold the first product for $78 and the second for $56, making a total of $6310.  The total number of products sold was 95. Write and solve a system of equations using inverse matrices, and then determine  how much money she would make from her  1st product   if she  went to 7 big events per year for  5 years and sold the same no. of products. 
  • Okay, let's start with  writing the equations if x represents product 1 and y represents product 2:   78x + 56y = 6310 (to find the no. of each) x + y = 95 (because the total products 1 & 2 was 95)
  • We're then going to write it in matrix form, and once we get the answers, we will find the  total no. of events (7 x 5 = 35 events) and multiply that with  the amount of the first product she sold!
  • ahaaaa!!!
  • Yesss! I know how to solve equations using inverse matrices! I'm going to solve it on Microsoft Word. I'll make you proud, Jackie! 
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