Only 10 True or False questions. Please answer ALL questions. Thank you!

1) It is always the case that P(x) (profit), R(x) (revenue), and C(x) (costs) are best modeled by linear equations.

2) If you collect data on 2 variables x & y, and then you draw a scatter plot of the ordered pairs (x,y), the variables show positive correlation if the scatter plot decreases as you move from left to right.

3) To determine the break even point for a company, take the revenue equation R(x), set it equal to the cost equation C(x), and then solve for x.

4) To determine the market equilibrium point, set the supply equation equal to the demand equation and then solve.

5) If the supply & demand equations are modeled by linear functions, the supply equation has a negative slope & the demand equation has a positive slope.

6) When looking at statistics related to MLB teams, we determined that the number of team wins is negatively correlated with attendance numbers at home games for the team.

7) In a linear revenue equation, the slope of the revenue equation is equal to the marginal revenue.

8) In a linear cost equation, the marginal cost is equal to the variable cost per unit.

9) If you have a linear equation which models the yearly depreciation schedule for a machine, the slope of the equation represents the amount of money that the machine depreciates by in 12 months time & the y-intercept represents the purchase price of the machine.

10) In a linear cost function C(x), its slope represents the variable costs per unit and the y-coordinate of the y-intercept denotes the fixed costs.