Math 1101 Group Practice – Section 2.3 The problem set below is meant to be completed as a small group activity (groups of 2 or 3 people). Each group should submit a single set of solutions. Answers should be in sentences, where appropriate. Place the name of each group member on the top of your answer sheet. No work or answers should submitted on the question papers. Toy stores have discovered that the number of Tickle Me Elmo toys sold in a month decreases as the price increases. This means that the number N, in hundreds of Tickle Me Elmo’s sold is a function of the price, P in dollars of each toy. Specifically, at K-Mart, this function is N = 78 – 1.3P. At Toys “R” Us, this function is N = 93 – 1.6P. Neither store will sell Tickle Me Elmo for less than $25. 1. How many Tickle Me Elmo’s will K-Mart sell in a month if they charge $40 per toy? 2. What price should Toys “R” Us charge for Tickle Me Elmo in order to sell 3,700 of them? Show an algebraic solution. 3. If both stores sold the same number of Tickle Me Elmo’s in March, how many Tickle Me Elmo’s did each store sell and what price did they charge? Show an algebraic solution. 4. Verify your answer to question 3 using the graphing calculator. Call your teacher over to see your group’s calculator screen. 5. Use the Toys “R” Us formula to obtain a formula expressing P as a function of N. 6. Use your answer to number 5 to determine the price Toys “R” Us should charge in order to sell 1,850 Tickle Me Elmo’s. Show an algebraic solution 7. Verify your answer to question 6 using the graphing option on calculator. Call your teacher over to see your group’s calculator screen.