Supply and demand. A cordless screwdriver is sold through a national chain of discount stores. A marketing company established price-demand and price-supply tables (Tables 2 and 3 ), where x is the number of screwdrivers people are willing to buy and the store is willing to sell each month at a price of p dollars per screwdriver. (A) Find a logarithmic regression model y = a + b ln x for the data in Table 2 . Estimate the demand (to the nearest unit) at a price level of $ 50 . (B) Find a logarithmic regression model y = a + b ln x for the data in Table 3 . Estimate the supply (to the nearest unit) at a price level of $50 . (C) Does a price level of $50 represent a stable condition, or is the price likely to increase or decrease? Explain.
Supply and demand. A cordless screwdriver is sold through a national chain of discount stores. A marketing company established price-demand and price-supply tables (Tables 2 and 3 ), where x is the number of screwdrivers people are willing to buy and the store is willing to sell each month at a price of p dollars per screwdriver. (A) Find a logarithmic regression model y = a + b ln x for the data in Table 2 . Estimate the demand (to the nearest unit) at a price level of $ 50 . (B) Find a logarithmic regression model y = a + b ln x for the data in Table 3 . Estimate the supply (to the nearest unit) at a price level of $50 . (C) Does a price level of $50 represent a stable condition, or is the price likely to increase or decrease? Explain.
Supply and demand. A cordless screwdriver is sold through a national chain of discount stores. A marketing company established price-demand and price-supply tables (Tables
2
and
3
), where
x
is the number of screwdrivers people are willing to buy and the store is willing to sell each month at a price of
p
dollars per screwdriver.
(A) Find a logarithmic regression model
y
=
a
+
b
ln
x
for the data in Table
2
. Estimate the demand (to the nearest unit) at a price level of
$
50
.
(B) Find a logarithmic regression model
y
=
a
+
b
ln
x
for the data in Table
3
. Estimate the supply (to the nearest unit) at a price level of
$50
.
(C) Does a price level of
$50
represent a stable condition, or is the price likely to increase or decrease? Explain.
QUESTION 18 - 1 POINT
Jessie is playing a dice game and bets $9 on her first roll. If a 10, 7, or 4 is rolled, she wins $9. This happens with a probability of . If an 8 or 2 is rolled, she loses her $9. This has a probability of J. If any other number is rolled, she does not win or lose, and the game continues. Find the expected value for Jessie on her first roll.
Round to the nearest cent if necessary. Do not round until the final calculation.
Provide your answer below:
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