The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2012 and 2013. Year 2012 2013 Selling Price ($) 395 315 Sales (millions) 672 1,136 (a) Use the data to obtain a linear demand function for this type of cell phone. (Let p be the price, and let g be the demand). q(p) = Use your demand equation to predict sales if the price is lowered to $235. million phones (b) Fill in the blank. For every $1 increase in price, sales of this type of cell phone decrease by million units.
The following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2012 and 2013. Year 2012 2013 Selling Price ($) 395 315 Sales (millions) 672 1,136 (a) Use the data to obtain a linear demand function for this type of cell phone. (Let p be the price, and let g be the demand). q(p) = Use your demand equation to predict sales if the price is lowered to $235. million phones (b) Fill in the blank. For every $1 increase in price, sales of this type of cell phone decrease by million units.
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
Section3.3: Modeling Data With Linear Functions
Problem 17E: Later High School Graduates This is a continuation of Exercise 16. The following table shows the...
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