A company model the number of products they will sell NNN, and the price PPP, by N=APBN = AP^BN=APB. The graph shows the linear relationship between log10N\log_{10} Nlog10N and log10P\log_{10} Plog10P. The line meets the vertical axis at 7.6 and has a gradient of -1.32.
Find, to the 3 significant figures, the value of A A\,A and the value of BBB.
The company sets a selling price at £74.95. Find, according to the model, an estimate for the number of products the company will sell.
The company estimate their production costs to be £20 per product. Estimate the profit the company will make from the product.
Practise Edexcel A Level Maths Exponentials and Logarithms with exam-style questions for A Level Maths. 41 questions covering 14.1 Exponential Functions, 14.2 y = e^x, 14.3 Exponential Modelling, 14.4 Logarithms, 14.5 Laws of Logarithms, 14.6 Solving Equations using Logarithms, 14.7 Working with Natural Logarithms, and 14.8 Logarithms and Non-Linear Data, matched to the Edexcel A Level Maths (9MA0) specification and written in Paper 1, Paper 2 and Paper 3 style. Every question includes a full worked solution and mark scheme, so you can see where marks are awarded rather than just whether you got the answer right.
