Question

Johnny wants to start making and selling surfboards. His costs are the large sum of money that includes his initial investment and the cost of materials for each surfboard. He has already planned how much he is going to sell his surfboards for. Explain how Johnny can set up a system of equations to predict when he will start to make a profit

Answer 1

Please help!!!

Answer 2

Okay,
1) What are the relevant quantities in this problem(anything that could have a number assigned to it).
2) How are any of them related/how are any dependent on other quantities.

Answer 3

1. the amount he invests, and the amount he plans on selling them for
2. they are related because he has to reach a point of intersection to determine when he will start creating a profit

Answer 4

There are a couple more quantities that I noticed besides those. There are what you mentioned, the initial investment, the selling price. Also, you have the cost to produce the surf boards, the number of surf boards and ultimately the profit.

Everything is related to the profit, the investment and cost to create the boards hurts it and the selling price helps it.

In addition to this, the number of surf boards is related to the cost of the surf boards as well as how much they are being sold for.

Answer 5

okay. so how would i answer the problem?

Answer 6

i just don't understand how to create the system of equations

Answer 7

Could I just create an equation in slope intercept form???

Answer 8

@heril

Answer 9

Sorry, was responding to another question.

In a simplified form, it will appear as slope intercept. Ultimately the profit is going to be equal to the profit from each board(the difference in the selling price and cost of the board) multiplied by the number of boards sold, minus the initial investment.

Answer 10

Once Johnny sells 10 surfboards, he will break even and every surfboard after that will bring him a profit.

Answer 11

So it would be:
profit x # of boards sold -investment ??

Answer 12

i + cs = ps
Initial investment = i
cost of materials per surfboard = cs
price to sell per surfboard =ps

Answer 13

For example, if i=100, c=10, p=20..........
100+10s=20s
Solve for s.
100=10s
s=10.

Answer 14

The way I have it written down is something like:

Profit = (Selling Price - Cost to Create Boards) * Number of Boards - Initial Investment