Making Consumer Choices The Espresso Machine (25 points) In real life, you must often make choices about
Question:
Making Consumer Choices The Espresso Machine (25 points) In real life, you must often make choices about whether to buy something pre-made or make it yourself. There are many things to consider: quality of homemade vs. bought, expense, convenience, enjoyment of making something, etc. In this response, you will be looking at the choice of buying an espresso machine or relying exclusively on store-bought coffee drinks. The espresso machine you are interested in costs
The espresso machine you are interested in costs $130 with tax.
The cost of ingredients to make one iced or hot flavored latte with the machine is $1.50.
Part 1
What is your start up cost? (Cost of machine)
| $120.58 |
What is the unit rate? (The cost of each additional latte)
| $1.5 per unit |
Write a linear equation, y = mx + b for the total cost when x represents the number of lattes made.
| Y= 130 + 1.5x |
Find the value of y when x = 1. Why is the total cost of your first latte different from the unit rate that you found in part B?
| When x=1 y=131.5 |
You may use these sentence frames:
When x = 1, y =
The total cost of 1 latte is different from the unit cost of 1 latte because...
Part 2
Graph the equation in the Desmos Lesson provided. You may use either Point Plotting or Slope-Intercept. Be sure to locate at least 3 points.
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A similar iced latte at Starbucks costs $6.25. This is the unit rate for a latte (the slope). As there is no other cost, your beginning point (y-intercept) is zero. Write a linear equation y = mx + b for the total cost when x represents the number of lattes purchased.
Graph the equation on the same graph you used in E. You may either use an input-output table to plot points or use the Slope-Intercept equation. Be sure to locate at least 3 points. You may want to do this in pencil in case you decide to use more points later in the problem.
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Estimate the ordered pair where the two lines cross and write it here:
| (______, ______) |
The x-value where they cross represents the number of lattes it will take to make the costs of the espresso machine and buying the lattes equal. The y-value represents the cost where they are the same. Fill in the banks.
It would take _________ lattes at a cost of $_________ each for the espresso maker and store bought lattes to cost the same.
Fill in the table below. You may want to go back and read the beginning for ideas. (And yes, if you like the way coffee smells when it is brewing, that's an advantage.) Put down any point you can think of.
| Advantages of Buying the Machine | Advantages of Buying at Starbucks |
Decision Time! Tell whether or not you have decided to buy the espresso machine. Give several reasons for your decision.
Expert Answer:
ANSWER Estimate the ordered pair where the two lines cross 12 150 It would take 12 lattes at a cost ... View the full answer
