3. An advertising agency conducted a survey and found that the number of units sold, N , depends onthe amount a, spent on advertising (in dollars). The following table gives the amount spent onadvertising and the number of units sold accordingly. Source: The Nature of Mathematics, 10e, Smith, K.J.Amount Spent (S)Number of Units Sold1000ubyos3,5723,9024,0553000500070004,156Using a calculator, makea scatter plot of the data, where x represents the amount of money spent.Using your calcu lator, find the logarithmic regression (LnReg) that models this situation. Call thisequation N(a), and round values to the nearest whole number.а.2According to the model N(a), how many units are sold if $8,000 is spent on advertising?b.Using the model N(a), algebraically determine how much money needs to be spent on advertising inorder to sell 5,000 units. You may check your answer graphically.с.Fall 2019350

Question
Asked Oct 8, 2019
3. An advertising agency conducted a survey and found that the number of units sold, N , depends on
the amount a, spent on advertising (in dollars). The following table gives the amount spent on
advertising and the number of units sold accordingly. Source: The Nature of Mathematics, 10e, Smith, K.J.
Amount Spent (S)
Number of Units Sold
1000
ubyos
3,572
3,902
4,055
3000
5000
7000
4,156
Using a calculator, makea scatter plot of the data, where x represents the amount of money spent.
Using your calcu lator, find the logarithmic regression (LnReg) that models this situation. Call this
equation N(a), and round values to the nearest whole number.
а.
2
According to the model N(a), how many units are sold if $8,000 is spent on advertising?
b.
Using the model N(a), algebraically determine how much money needs to be spent on advertising in
order to sell 5,000 units. You may check your answer graphically.
с.
Fall 2019
350
help_outline

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3. An advertising agency conducted a survey and found that the number of units sold, N , depends on the amount a, spent on advertising (in dollars). The following table gives the amount spent on advertising and the number of units sold accordingly. Source: The Nature of Mathematics, 10e, Smith, K.J. Amount Spent (S) Number of Units Sold 1000 ubyos 3,572 3,902 4,055 3000 5000 7000 4,156 Using a calculator, makea scatter plot of the data, where x represents the amount of money spent. Using your calcu lator, find the logarithmic regression (LnReg) that models this situation. Call this equation N(a), and round values to the nearest whole number. а. 2 According to the model N(a), how many units are sold if $8,000 is spent on advertising? b. Using the model N(a), algebraically determine how much money needs to be spent on advertising in order to sell 5,000 units. You may check your answer graphically. с. Fall 2019 350

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check_circleExpert Solution
Step 1

Using graphing calculator we plot the data.

Using calculator we find the logarithmic regression too. 

N(a)= 1499+300ln(a)

Answer(a): N(a)= 1499+300ln(a)

8000
6000
4000
(7000, 4156)
|(3000 3902) (5 000, 4055)
(1000, 3572)
2000
2000
5000
7000
3000
1000
4000
6000
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8000 6000 4000 (7000, 4156) |(3000 3902) (5 000, 4055) (1000, 3572) 2000 2000 5000 7000 3000 1000 4000 6000

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Step 2

For a=8000 we have to find N(a)...

N(a) 1499+300ln(a)
N(8000)=1499+300ln(8000)
N(8000) 4195
help_outline

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N(a) 1499+300ln(a) N(8000)=1499+300ln(8000) N(8000) 4195

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