The following data represent the price and quantity demanded in 2009 for Dell personal computers. Price ($/Computer)
Question:
The following data represent the price and quantity demanded in 2009 for Dell personal computers.
Price ($/Computer) ……………………………. Quantity Demanded
2300 …………………………………………………….. 171
2000 …………………………………………………….. 152
1700 …………………………………………………….. 159
1500 …………………………………………………….. 164
1300 …………………………………………………….. 176
1200 …………………………………………………….. 180
1000 …………………………………………………….. 189
(a) Using a graphing utility, draw a scatter diagram of the data with price as the dependent variable.
(b) Using a graphing utility, build a logarithmic model from the data.
(c) Using a graphing utility, draw the logarithmic function found in part (b) on the scatter diagram.
(d) Use the function found in part (b) to predict the number of Dell personal computers that will be demanded if the price is $1650.
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