mod 6 ct mth122 (1)

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Colorado State University, Global Campus *

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122

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Mathematics

Date

Jan 9, 2024

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pdf

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Uploaded by CaptainAlpacaPerson1013

As a manager, you have the following data collected by your data analyst regarding the price and quantity demanded: Demand (D)Price of One Shirt(P)] 152 2300 159 2000 164 1700 171 1500 176 1300 180 1200 189 1000 The directions suggest to use Desmos, however Excel will be éasiei’i 1. Using a graphing utility, draw a scatter diagram with price as a function of demand. 1000 1500 2000 2500 2. Using a graphing utility, build a logarithmic model from the data. The logarithmic model is y= 488.76 + (-43.51)In(x)

3. Graph the logarithmic function in the scatter diagram. The process for questions 1-3 is similar to the module 3 CT assignment. If you need a refresher, check out the video in the week 3 announcement. Keep in mind that you are | finding a logarithmic function and not a linear function. Don’t forget to add the equation to your graph. The equation should be of the form y = a + b*In(x) 20 0 500 1000 1500 2000 2500 4. Use the function you found above to predict the number of quantities that will be demanded if the price is $1750. Be sure to include your work showing how you found the solution. ([ (P58)= -UB.5ILnLM5p)+ 4es T — (- 42 14) + HfE e 2 ~24.90 +{8E e >y (176@3

5. Use the function you found in #2 to predict the price, if the quantity demanded is 174. Be sure to include your work showing how you found the solution. AU = U3 S| Ln (O+USE T ~> H35In=UsE 7 "1 =2 Y3.sln =340 2 ng 5:21;’ > w123 2 1.2 (x)= 7= 129021

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mod 6 ct mth122 (1)

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