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For Exercises 39-41, use the following information.

Adam and his family are planning to rent a midsize car for one-day trip. In the Standard Rental Plan, they can rent a car for \(52 per day plus 23 cents per mile. In the Deluxe Rental Plan, they can rent a car for \)80 per day with unlimited mileage.

40. Graph these equations. Estimate the break-even point of the rental costs.

Short Answer

Expert verified

The graph of the equations y=0.23x+52 and y=80 is provided below. The break-even point is 121.7,80.

Step by step solution

01

Step-1 – Interpret the data

According to the question, there are two rental plans.

The cost of renting a car as per Standard Rental plan is $52 per day plus 23 cents per mile. In the Deluxe Rental Plan, the cost to rent a car is $80 per day with unlimited mileage.

02

Step-2 – Define the variables

Consider two variables x and y.

Denote the cost of renting a car by y and number of miles driven by x.

03

Step-3 – Build the equations

Let the number of miles driven be x.

In Standard Rental plan car is rented for$52 per day plus 23 cents per mile. Therefore, the cost to rent a car is expressed below. The per day cost is fixed as one-day trip is to be scheduled.

y=0.23x+52

In Deluxe Rental plan car is rented for$80 per day with unlimited mileage.

Therefore, the cost to rent a car is expressed below.

y=80

Thus, the equation that represent cost of renting a car as per Standard Rental plan is y=0.23x+52 and cost of renting a car as per Deluxe Rental plan is y=80.

04

Step-4 – Apply the concept of slope-intercept form

Equation of line in slope intercept form is expressed below.

y=mx+c

Where m is the slope and c is the intercept of y-axis.

05

Step-5 –Write the equations in slope-intercept form

Consider the first equation y=0.23x+52.

Now, the equation is in the form y=mx+c. Here slope m of the line is 0.23 and intercept of y-axis c is 52.

Now, consider the second equation y=80.

Rewrite the equation in form of slope-intercept form.

y=0x+80

Now, the equation is in the form y=mx+c. Here slope m of the line is 0 and intercept of y-axis c is 80.

06

Step-6 – Identify the point of intersection of the equations

Plot the equations on the same plane and the point where both the equations intersect is the break-even point of the system of the equations.

The red line denotes the equation y=0.23x+52 and blue line denotes the equation y=80.

Therefore, the break-even point of the rental costs is 121.7,80.

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