I'm not sure how they are calculating price here. I got the slope part, but after that? It's not a y=slope*x + b formula? Can we simplify this and just assume that since the accuracy is closer to 99%, our price should be closer to 2k, and do a proportional decrease (i.e. 2000 * 95%/99%= $1920?)
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Calculating price
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Hey there,
Think about the solution like this:
- Each percaentage point of additional accuracy after 80% (blod test accuracy) worth $97.5 (your slope)
- Our clients, test has 15 pp more than the blod test (95%-88%), so it has an additional value of: $97.5*15 = $1462.5
- The first 80% accuracy points worth 50$ as in the blood test - the additional 15% points worth $1,462.5 as calculated above
- Total price = $1,462.5 + $50
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