Data representing the price and quantity demanded for hand-held electronic organizers were analyzed every day for 15 days. The logarithmic function of best fit to the data was found to be y= 398-73 lnx. Use this to predict the number of hand-held electronic organizers that would be demanded if the price were $275. Round to the nearest whole number.

a. 6 electronic organizers
b. 5 electronic organizers
c. 4 electronic organizers
d. 7 electronic organizers

Respuesta :

Answer:

[tex]x=5[/tex]

Step-by-step explanation:

From the question we are told that

The logarithmic function [tex]y= 398-73 lnx[/tex]

Price p= $275

Generally we solve mathematically for the equation [tex]y= 398-73 lnx[/tex]

[tex]y= 398-73 lnx[/tex]

[tex]275= 398-73 lnx[/tex]

[tex]73 lnx=123[/tex]

[tex]lnx=\frac{123}{73}[/tex]

Therefore

[tex]x=e^(^\frac{123}{73}^)[/tex]

[tex]x=5.4[/tex]

Nearest whole number

[tex]x=5[/tex]

The number of required hand-held electric organizers would be 5, option b. Understand the step-by-step calculations below.

Logarithm:

The logarithm is an exponent or power to which a base must be raised to obtain a given number.

Mathematically, logarithms are expressed as, m is the logarithm of n to the base b if [tex]bm = n[/tex], which can also be written as [tex]m = log_nb[/tex].

Given function is,

[tex]y=398-73 lnx[/tex]

Also, the cost is $275 then from the given equation,

[tex]398-73 lnx=275[/tex]

Now, solving the above equation we get,

[tex]398-73 lnx=275\\73ln=398-275\\lnx=\frac{123}{73}[/tex]

Now, shifting the algorithm into another side we get the exponential equation as,

[tex]\\x=e^{\frac{123}{73} }\\x=5.39\\x\approx5[/tex]

Learn more about the topic Logarithm here:

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