Page 1 of 1

I only need part E and F 1. A company sells fishing rods. The data in the chart below relates the price of a fishing rod

Posted: Sat Feb 26, 2022 11:50 am
by answerhappygod
I only need part E and F
1. A company sells fishing rods. The data in the chart below
relates the price of a fishing
rod to its demand. Price is in dollars and fishing rods are counted
in number sold weekly.
Data points 1st 2nd 3rd 4th 5th 6th
fishing rods 142 158 179 203 220 252
(x )
price 145 140 132 125 118 105
p(x )
1
(a) Graph the data on the given graph on page 3. Label the axes
appropriately with
both name and units. Use tick-marks to determine a good scaling and
number the
tick-marks. Plot the points with dots and draw a dotted line
through the second
and sixth data point extending through all of the data. (The dotted
line will not
necessarily touch all the data points)
(b) What is a reasonable domain considering the context? What is
the corresponding
range? Give these answers in interval notation.
(c) Assuming the price-demand model is linear with demand the
independent variable
(x ), use the second and sixth data points, write a mathematical
model (function)
for the price-demand of fishing rods. Express your model in
function notation,p(x ).
(For full credit, you need to show how you arrive at your
model.).
C= (p)(x) =-0.3723*x+1.98.829
(d) Using the price-demand model from part c, what price should
they charge if they
want to sell 200 fishing rods weekly? Your price needs to be
accurate to the
nearest penny. Label your answer.
(e) Using the price-demand model from part c, if they want to
charge $135 for a
fishing rod, how many fishing rods can they expect to sell weekly?
Label your
answer.
(f ) How fast is the price of fishing rods changing when 190
fishing rods are being
produced weekly. Write out your answer in a sentence describing the
answer in
the context of the problem.