# MATH 122 CSU Global Algebra: Quantity and Pricing

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### Question Description

Option #2: Quantity and Pricing

As a manager, you have the following data collected by your data analyst regarding the price and quantity demanded.

 Price Quantity Demanded 3500 3270 3300 3796 3100 4355 2900 4951 2800 5265 2650 5757 2400 6640
• Using a graphing utility, draw a scatter diagram with price as a function of demand.
• Using a graphing utility, build a logarithmic model from the data.
• Graph the logarithmic function in the scatter diagram.
• Use the function you found in the second bulleted item to predict the number of quantities that will be demanded if the price is \$1750. Round to the nearest whole number.
• Use the function you found in in the second bulleted item to predict the price, if the quantity demanded is 174. Round to the nearest whole number.

Requirements:

1. Paper must be written in 3rd
2. Your paper should be 4-5 pages in length (counting the title page and references page) and cite and integrate at least one credible outside source.
3. Include a title page, introduction, body, conclusion, and a reference page.
4. The introduction should describe or summarize the topic or problem. It might discuss the importance of the topic or how it affects you or society as a whole, or it might discuss or describe the unique terminology associated with the topic.
5. The body of your paper should answer the questions posed in the problem. Explain how you approached and answered the question or solved the problem, and, for each question, show all steps involved. Be sure this is in paragraph format, not numbered answers like a homework assignment.
6. The conclusion should summarize your thoughts about what you have determined from the data and your analysis, often with a broader personal or societal perspective in mind. Nothing new should be introduced in the conclusion that was not previously discussed in the body paragraphs.
7. Include any tables of data or calculations, calculated values, and/or graphs associated with this problem in the body of your assignment.
8. Document formatting, citations, and style should conform to the APA standard.

Eng_Hiruni
School: Boston College

Hi! I have finished the assignment. Let me know if you need any changes done. ðŸ˜Š

Running Head: QUANTITY DEMANDED AND PRICING
1

Relationship Between Quantity Demanded and Price

QUANTITY DEMANDED AND PRICING

1

Relationship Between Quantity Demanded and Price
Introduction
In economics, Law of Demand is used to explain the effect of demand on the price of a
good. Demand is the measurement of consumer desire on a good or a service. Price is the money
someone charges for a good or a service. The Law of Demand explains that the Demand for a
good and the Price of the good are in an inversely proportional relationship. In this paper, the
relationship between the Price of a good and the Demand for that g...

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