[Solved] An entrepreneur purchases dress shirts from China at a price of $2. She wants to sell them on the Internet (E-Commerce) and decides to try different
Question: An entrepreneur purchases dress shirts from China at a price of $2. She wants to sell them on the Internet (E-Commerce) and decides to try different prices to see whether price affects quantity demanded. Using the data below, draw a scatter plot (also called scatter diagram). Since demand curves traditionally show price as the Y-axis, and Q-demanded as the X-axis, the first column is Q-demanded.
Do you think there is a relationship between Price and Q-demanded? What kind of relationship?
| Quantity Sold | Price of Shirts |
| 400 | $ 5.00 |
| 390 | $ 6.00 |
| 410 | $ 7.00 |
| 375 | $ 8.00 |
| 350 | $ 9.00 |
| 380 | $ 10.00 |
| 340 | $ 11.00 |
| 300 | $ 12.00 |
| 310 | $ 13.00 |
| 290 | $ 14.00 |
| 280 | $ 15.00 |
| 295 | $ 16.00 |
| 220 | $ 17.00 |
| 250 | $ 18.00 |
| 200 | $ 19.00 |
| 240 | $ 20.00 |
| 160 | $ 25.00 |
| 150 | $ 30.00 |
| 140 | $ 36.00 |
| 110 | $ 40.00 |
Deliverable: Word Document 
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