Price–demand. A company manufactures memory chips for microcomputers. Its marketing resear...

Price–demand. A company manufactures memory chips for microcomputers. Its marketing research department, using statistical techniques, collected the data shown in Table 1, where p is the wholesale price per chip at which x million chips can be sold. Using special analytical techniques (regression analysis), an analyst produced the following price–demand function to model the data:

Table 1 Price–Demand

(A) Plot the data points in Table 1, and sketch a graph of the price–demand function in the same coordinate system.

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(B) What would be the estimated price per chip for a demand of 7 million chips? For a demand of 11 million chips?