Question
#1. Demand for Jeans (data is taken from the Mixed Practice Problem# 21 in Section 2.2) The marketing manager at Levi Strauss wishes to find a function that relates the demand d for men’s jeans and p. the price of the jeans. The following data were obtained based on a price history of the jeans. Price (S/pair), Demand (Pairs of jeans р sold per day), d 20 60 22 57 23 56 23 53 27 52 29 49 30 44 Answer the following questions using Maple. Write your answers in Text mode. (a) Does the relation defined by the set of ordered pairs (p. d) represent a function? (b) Draw a scatter diagram of the data. (c) Find the line of best fit relating price and quantity demanded. (d) Interpret the slope. (e) Express the relationship found in part (c) using function notation. (1) What is the domain of the function? Take into account a real life setting of the problem. (g) How many jeans will be demanded if the price is $28 a pair? (h) What should be the price of jeans to sell at least 50 pairs per day?
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