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- The accompanying table gives the relationship between the price of custard pies and the number of pies Jacob buys per week: Price ($ per pie) $3.00 2.00 5.00 6.00 1.00 4.00 Quantity of pies 6 7 4 3 8 5 Week July 2 July 9 July 16 July 23 July 30 August 6 a. Is the relationship between the price of pies and the number of pies Jacob buys a positive relationship or a negative relationship? A. Negative relationship OB. Positive relationship Assume that when plotting a graph, price (in dollars per pie) is on the y-axis and quantity (in pies per week) is on the x-axis. When plotting the points, when the y-value is 1, the x-value is 8, when the y-value is 2, the x-value is 7, when the y-value is 3, the x-value is 6, when the y-value is 4, the x-value is 5, when the y-value is 5, the x-value is 4, and when the y-value is 6, the x-value is 3 (Enter your responses as whole numbers.) The line that best fits the dataMOER The table below shows how supply and demand Price ($/gal) Demand (million of gal.) 1 1.2 790 700 1.4 640 1.6 580 1.95 497 2.2 450 2.4 430 2.6 420 2.8 390 3 360 Note: there is some randomization in the above data to account for price fluctuations. Make sure to check that you input the correct data in your device. Perform the following work • Assume that Supply has a quadratic relationship with the price. Find this relationship (the help buttons contain an article to compute trend-lines in Excel): -21.935p² + 207.365p+339.085 Round your answer to 3 decimal places S(p) ● D(p): = 1.53 • Assume that the Demand has a quadratic relationship with the price. Find this relationship (the help button links to an article to compute trend-lines in Excel): 85.561p² - 543.789p + 1236.729 Round your answer to 3 decimal places Video Solve | Sn... of gasoliine vary depending on the price: Supply (million of gal.) 511 550 600 641 660 680 700 720 735 786 605 - • Use the trendlines to find the price…Suppose both the demand for olives and the supply of olives decline by equal amounts over some time period Use graphical analysis to show the effect on equilibrium price and quantity.
- Which of the following pairs is most likely to exhibit an inverse relationship?a. The amount of time you study and your grade point averageb. People’s annual income and their expenditure on personal computersc. Baseball players’ salaries and their batting averagesd. The price of a concert and the number of tickets that people purchaseQ. Suppose the price elesiticity of demand is estimated to be 3 what does this mean with schedule and graph?Can you draw all of this shifts with graph
- What is the difference between arithmetic and geometric gradient?The table provides data on the price of an umbrella, the amount of rainfall, and the number of umbrellas bought per day. Price (dollars per umbrella) 20 30 40 2 inches 30 20 15 2) 3 inches. Label the point 2. 3) 4 inches. Label the point 3. Umbrellas (number per day) 3 inches 40 30 25 4 inches 60 45 30 Draw points to show the price when the quantity is 30 umbrellas and the rainfall is 1) 2 inches. Label the point 1. Draw a curve through these points to illustrate the relationship between rainfall and price when the quantity is constant at 30 umbrellas. 40- 30 20- 10- 0 Price (dollars per umbrella) Rainfall (inches per day) >>> Draw only the objects specified in the question.1. A band on tour typically sells promo t-shirts for $20 each, and sells 12,000 shirts at that price. When they raise the price to $25, they sell 10,000 t- shirts. 0 4000 8000 10,000 12,000 14,000 16,000 20,000 a. Assume the price-demand relationship is linear. Find the equation that gives price as a function of the number of t-shirts sold. b. According to the model, at what price will no t-shirts be sold? c. Fill in the table showing the relationship between t-shirts sold, price, and revenue. X = number of shirts sold Y = price $25 $20 Revenue = price times number of shirts sold d. Use the table to show a sketch of revenue as a function of the number of t-shirts sold.
- Price ($) a) Suppose that the demand for pizzas were to increase by 120 pizzas per day. Show the new demand, in the graph below: Plot the two end points using the tool provided in the graphing area below. Plot only the end points of the curve and position those points on the edge of the graphing area. 64 56 48 40 32 24 16 8 0 40 80 120160200240 280 320 360 400 440 480 S D Tools Demand Help i Save & Exit SubmitI Consider the demand for trading cards listed below. Month Demand Jan. 51,000 48,000 Feb. March 55,000 April May 58,000 66,000 June 69,000 80,000 July Aug. 95,000 Use Excel to prepare a forecast for September, October, and November using linear regression Print out the sheet of results, as well as a sheet containing the formulas that you used ( can be used to toggle between displaying values and displaying formulas or you can click on Formulas>Formula Auditing→Show Formulas.) and for the cars is 16.000Find the slope between point And B and write with formula