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KengaRu [80]
3 years ago
15

Your boss would like your help on a marketing research project she is conducting on the relationship between the price of soda a

nd the quantity of soda demanded. She hands you the following document: Price of Soda Quantity of Soda Demanded (Dollars per can) (Billions of cans) 0.50 2,000 0.75 1,500 1.00 1,000 1.25 750 Your task is to take this________ and construct a graphical representation of the data. In doing so, you determine that as the price of soda rises, the quantity of soda demanded decreases. This confirms the________
Business
1 answer:
sattari [20]3 years ago
5 0

Answer:

Your task is to take this <u>demand schedule</u> and construct a graphical representation of the data. In doing so, you determine that as the price of soda rises, the quantity of soda demanded decreases. This confirms the <u>law of supply and demand .</u>

Explanation:

A demand schedule basically shows us the quantity demanded for a good or service at different price levels.

As the price of a good or service increases, the consumers will be less willing to purchase the good or service, therefore the quantity demanded will decrease. When the price of a good or service increases, this results in a higher opportunity cost for the consumer and a lower consumer surplus.  

Inversely, when the price of the good or service increases, the suppliers will be more willing to produce the good or service, therefore the quantity supplied will increase.

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Option A is the correct approach.

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The other options offered are also not relevant to the scenario presented. So, the solution above is the right one.

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Karissa works for a company that sells sour cream. Sales are down, so she begins a research project. First, she develops a hypot
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The next step for Karissa is to collect data.

<h3>What are the steps involved in a research project?</h3>

Locating and defining issues or problems is the first step:

The goal of this stage is to define the parameters of a situation or subject that needs to be resolved or researched. The researcher should consider the study's objectives, pertinent prior knowledge, the information that is required, and how the information will be used in decision-making when describing the issues or problems.

Creating the research project is step two:

This step focuses on developing a research strategy or overarching approach to how you will address the stated issue or problem. A framework or blueprint for carrying out a research undertaking is a research strategy or approach. It describes the steps required to get the needed data, and its goal is to create a study that will test the relevant hypotheses, find potential solutions to the research problems, and offer the data required for making decisions.

Data Collection is the third step:

This step focused on gathering the data you'll need to address the issue or problem you identified. Experiments, observations, human interviews, telephone or computer-assisted telephone interviews from an office, and postal surveys are all possible methods for gathering data.

Analyzing Research Data is the fourth step:

In this step, the research findings will be interpreted, examined, and analyzed in order to reach a conclusion that resolves the problem. Make sure the conclusion is clear and well-thought-out in light of the information gathered.

Present Your Research Results is step five:

Reporting the research results to individuals who require the information to make decisions is the last stage. The findings ought to be presented in an understandable way so that decision-makers can quickly utilize them. In order to increase impact and clarity, a spoken presentation to management should also include tables, figures, and graphs.

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