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1. For the first year, the average smart phone was approximately $250, and sales for that...

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Basic Math

1. For the first year, the average smart phone was approximately$250, and sales for that year were forecast to be 997.7 million.For the second year the average smart phone was approximately $200,and sales for that year were forecast to be 1401.3 million. A)Assume that the quantity of smart phones sold each year, q (inmillions), is the linear function of price per smart phone, p (inUS dollars). Write an equation for q as a function of p. B)Explain, in the context of sales, why it is reasonable that theslope of your linear function is negative. C) In the context ofsmart phone sales, what is the significance of the verticle axisintercept for your linear function?

Answer & Explanation Solved by verified expert
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Part aPart b There is bound to be a negative relationship betweensales of luxury products like smartphones and price The higher    See Answer
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