Concept explainers
To describe: a real world relationship that could be represented by the graph sketched above.
Explanation of Solution
Given information:
Calculation:
Consider below graph
A real world example for above graph can be described by sells of newly launched smart phone. On the first day of sell, many people will buy same out of curiosity. Over the period of time the sells will increase slowly and then for some period of time it will be constant. Later, with same product, some issue gets reported and thus sell suddenly comes down. Ultimately, the sells has shown steady decline.
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