The Given Situation Involves a Rate of Change That You

question 37

Multiple Choice

The given situation involves a rate of change that you may assume to be constant. Write a statement that describes howone variable varies with respect to another, give the rate of change numerically (with units) , and use the rate of changerule to answer the questions.
-A gas station owner finds that for every penny increase in the price of gasoline, she sells 1516 fewer gallons of gas per week. How much more or less gas will she sell if she raises the price by 10 cents
Per gallon? If she decreases the price by 2 cents per gallon?

• A)At a particular gas station, sales decrease with respect to price by 1516 gallons per cent. The rate of change is 1516 gallons per cent. If the price is increased by 10 cents per gallon, the
• Change in gas sales is 7580 gallons. If the price is decreased by 2 cents, gas sales increase by
• -1516 gallons.
• B)At a particular gas station, sales decrease with respect to price by 1516 gallons per cent. The rate of change is -1516 gallons per cent. If the price is increased by 10 cents per gallon, the
• Change in gas sales is -18,950 gallons. If the price is decreased by 2 cents, gas sales increase by
• -3790 gallons.
• C)At a particular gas station, sales decrease with respect to price by 1516 gallons per cent. The rate of change is -1516 gallons per cent. If the price is increased by 10 cents per gallon, the
• Change in gas sales is -15,160 gallons. If the price is decreased by 2 cents, gas sales increase by
• 3032 gallons.
• D)At a particular gas station, sales decrease with respect to price by 1516 gallons per cent. The rate of change is 1516 gallons per cent. If the price is increased by 10 cents per gallon, the
• Change in gas sales is 11,370 gallons. If the price is decreased by 2 cents, gas sales increase by
• 2274 gallons.

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Definitions:

Metrics

Quantitative measures used to evaluate, compare, and track performance or production.

Market Performance

An assessment of how well a company or product does in the market compared to its competitors, often measured through sales, profitability, and market share.

Marketing Analytics

The method of evaluating, controlling, and examining marketing outcomes to enhance its efficiency and improve the return on investment (ROI).

Ethical Companies

Businesses that operate in a manner that is considered morally right, adhering to principles of fairness, honesty, and respect for individuals and the environment.