Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 03 Apr 2018 My Price 7.00

logarithmic regression model

Supply and demand. A cordless screwdriver is sold through a national chain of discount stores. A marketing company established price demand and price supply tables (Tables 1 and 2), where x is the number of screwdrivers people are willing to buy and the store is willing to sell each month at a price of p dollars per screwdriver.

(A) Find a logarithmic regression model  for the data in Table 1. Estimate the demand (to the nearest unit) at a price level of $50.

(B) Find a logarithmic regression model for the data in Table 2. Estimate the supply (to the nearest unit) at a price level of $50

(C) Does a price level of $50 represent a stable condition, or is the price likely to increase or decrease? Explain

 

Answers

Maurice Tutor
(5)
Status NEW Posted 03 Apr 2018 08:04 PM My Price 7.00

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