The following table shows the total sales, in thousands, since a new game was brought to market. Month Sales 0 0 2 2.2 4 9 8 10 12 14 5.4 9.5 19.1 27.2 32.9 35.4 (a) Plot this data and determine the point of diminishing returns. Enter the closest value in the table. The point of diminishing returns occurs i months after the game is introduced. (b) Predict total possible sales of this game, using the point of diminishing returns from the table. Total sales i

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following table shows the total sales, in thousands, since a new game was brought to market.
Month
Sales
0
0
2
2.2
4
9
8
10 12 14
5.4 9.5 19.1 27.2 32.9 35.4
(a) Plot this data and determine the point of diminishing returns.
Enter the closest value in the table.
The point of diminishing returns occurs
i
months after the game is introduced.
(b) Predict total possible sales of this game, using the point of diminishing returns from the table.
Total sales
i
Transcribed Image Text:The following table shows the total sales, in thousands, since a new game was brought to market. Month Sales 0 0 2 2.2 4 9 8 10 12 14 5.4 9.5 19.1 27.2 32.9 35.4 (a) Plot this data and determine the point of diminishing returns. Enter the closest value in the table. The point of diminishing returns occurs i months after the game is introduced. (b) Predict total possible sales of this game, using the point of diminishing returns from the table. Total sales i
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