/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Problem 66 The table shows the average sale... [FREE SOLUTION] | 91Ó°ÊÓ

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The table shows the average sales \(S\) (in millions of dollars) of an outerwear manufacturer for each month \(t,\) where \(t=1\) represents January. $$ \begin{aligned} &\begin{array}{|c|c|c|c|c|c|c|} \hline \text { Time, } t & 1 & 2 & 3 & 4 & 5 & 6 \\ \hline \text { Sales, } S & 13.46 & 11.15 & 8.00 & 4.85 & 2.54 & 1.70 \\ \hline \end{array}\\\ &\begin{array}{|l|c|c|c|c|c|c|} \hline \text { Time, } t & 7 & 8 & 9 & 10 & 11 & 12 \\ \hline \text { Sales, } S & 2.54 & 4.85 & 8.00 & 11.15 & 13.46 & 14.30 \\ \hline \end{array} \end{aligned} $$ (a) Create a scatter plot of the data. (b) Find a trigonometric model that fits the data. Graph the model with your scatter plot. How well does the model fit the data? (c) What is the period of the model? Do you think it is reasonable given the context? Explain your reasoning. (d) Interpret the meaning of the model's amplitude in the context of the problem.

Short Answer

Expert verified
The scatter plot would show cyclical sales data, with peaks in the winter months (t=1 and t=12) and dips in the summer months (t=6). The best-fitting trigonometric function would likely take the form of a sine or cosine wave. The period of the function, determined by \(P=\frac{2\pi}{B}\), should logically represent the annual cycle of the retail sales. The amplitude would represent the oscillation in sales around the mean sales figure.

Step by step solution

01

Creating a Scatter Plot

Firstly, plot the sales data against the month data. Each point on the graph represents a month and the corresponding sales for that month.
02

Deriving the best fitting trigonometric function

Next, start by looking at the nature of the data. Sales peak in the winter months and decrease in the summer months, which aligns with the cyclical nature of sine and cosine functions. Estimate an initial function with the form \(S(t) = A sin(B(t-C))+D\) by finding the values for A, B, C, and D that seem to best fit the data.
03

Superimposing the trigonometric curve on scatter plot

To visualize the fit of the function, plot the derived function on the same graph as the scatter plot. A good fit will follow the general trend of the scatter plot points.
04

Calculating the period of the function

The period of a sine function is given by \(P=\frac{2\pi}{B}\). Using the value of B from your derived function, calculate the period.
05

Assessing the reasonability of the period

Consider the meaning of a period in this context. It represents the cyclicality of the sales and should align with our knowledge of retail cycles. Most retail sales are cyclical on a yearly basis.
06

Interpreting the amplitude of the function

The amplitude of a sine function in this context represents the fluctuation in sales around the average sales. It demonstrates how significantly the sales deviate from the mean over the course of a cycle.

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Understanding Scatter Plots
A scatter plot is an essential graphical tool in statistics and mathematics, particularly useful for visualizing the relationship between two different data sets. For instance, consider a business analyzing their monthly sales data. By plotting each month's sales figures against time, each point on the graph represents the sales figure for that month.

An effective scatter plot should have a clear scale and labeled axes, in this case, the x-axis could be the time intervals (months), and the y-axis would represent sales in millions of dollars. When reviewing a scatter plot, patterns may emerge that indicate correlations or trends. For instance, in the given exercise, the scatter plot would likely reveal a pattern that reflects the seasonal variation in outerwear sales.

For students working on creating scatter plots, it is crucial to make the data points clear and distinct, so that patterns are easy to identify at a glance. Moreover, when digital tools are available, use them to create a more precise plot by ensuring that data points are accurately placed according to the scale on the axes.
Identifying Seasonal Sales Cycles
The seasonal sales cycle is a pattern that many businesses experience, where sales fluctuate based on the time of year. This phenomenon is particularly evident in industries such as fashion or agriculture, where demand changes with the seasons. For an outerwear manufacturer, sales typically peak during colder months and decline in warmer months.

Understanding and identifying these cycles are critical for effective inventory management, pricing strategies, and marketing. In the context of the exercise, a trigonometric function is a suitable model to represent this cyclical nature. The sine function, particularly, mirrors the predictability and repetitiveness of seasonal cycles.

When analyzing cycles, students should pay attention to the highest and lowest points in a cycle, as well as the length of the cycle. In a real-world context, this understanding aids businesses in planning for the future and perhaps, in developing strategies to mitigate the downtimes and capitalize on the peaks. Therefore, the determination of a precise model affects crucial business decisions and forecasts.
Exploring Sine Function Amplitude
The amplitude of a sine function, often denoted by the variable 'A' in the equation \(S(t) = A sin(B(t-C))+D\), represents the function's maximum value from its mean (or equilibrium) line. In the case of our sales data, this amplitude equates to the maximum deviation in sales from the average year-round sales.

The amplitude indicates the extent of fluctuation in sales - larger amplitudes mean more significant swings above and below the average, while smaller amplitudes indicate more stable sales throughout the year. Understanding the amplitude within the context of the sales data means recognizing how dramatic the seasonal spikes and drops are for the outerwear manufacturer.

Students should remember that the amplitude corresponds to the vertical stretch of the sine curve. Considering this could help in estimating how aggressive or conservative the company should be in managing their inventory levels. Given this, knowing the amplitude helps predict the company's potential sales variability and can be essential for strategic planning.

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