Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost Model Find a linear regression model for the weekly cost data, using @ as the independent variable. C(a) = max + k Round m

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Cost Model Find a linear regression model for the weekly cost data, using @ as the independent variable. C(a) = max + k Round m to 1 decimal place, and round & to the nearest integer. Use this cost model to answer questions 9-15 below.Prot Model Use the revenue and cost models above to construct a model for prot. Find a model For the weekly prot. using a: as the independent variable. 13(3) = 5" + um + 39:2 + 553 NOTE: Do not calculate another regression. Use the Fact that prot is revenue minus cost. Round 1' to the nearest integer, roundu to 1 decimal place, round 3 to 2 decimal places, and round: to 4 decimal places. Use this prot model to answer questions 1629 below. Question 20 2 pts Use the prot model above to answer this question. What is 11.? Round to 1 decimal place. Question 21 2 pts Use the prot model above to answer this question. What is 5? Round to 2 decimal places. Question 22 3 pts Use the prot model above to answer this question. What is 1."? Round to 4 decimal places. Question 23 3 pts Use the prot model above to answer this question. Use the weekly prot model to estimate the total weekly prot when the weekly production is 113. Round to the nearest dollar. $ Additional Information The weekly prot model has roots at E = 52.?89. m 47.555. and m = 202.944, rounded to 3 decimal places. The marginal weekly prot model has roots at E = B.4SS and m = 140.295, rounded to 3 decimal places. Use this information and the prot model to answer the questions 2429 below. Question 24 2 pts Use the Additional Information and the prot model above to answer this question. There are two break-even points. Give the m-coordinate of either one. Round to 3 decimal places. sleeping bags Question 25 3 pts Use the Additional Information and the prot model above to answer this question. What weekly product-ion level will maximize prot? Round to 1 decimal place. sleeping bags Question 26 3 pts Use the Additional Information and the prot model above to answer this question. What is the maximum weekly prot? Round to the nearest dollar. $ Question 2? 3 pts Use the Additional Information and the prot model above to answer this question. What is the wholesale price per sleeping bag that should be charged to realize the maximum weekly prot? Round to the nearest cent. 15 per sleeping bag Yaster Outfitters . makes a profit on extreme-cold sleeping bags when the weekly production level x satisfies A > B. In other words, Yaster starts making a profit when production exceeds A sleeping bags per week, and starts losing money when production exceeds B sleeping bags per week. Round A and B to 3 decimal places. Use this definition of A and B, the Additional Information, and the profit model above to answer questions 28-29 below. Question 28 3 pts Use this definition of A and B, the Additional Information, and the profit model above to answer this question. What is A? Round to 3 decimal places. sleeping bags Question 29 2 pts Use this definition of A and B, the Additional Information, and the profit model above to answer this question. What is B? Round to 3 decimal places. sleeping bagsYaster Outtters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: - p is the wholesale price [in dollars] of a sleeping bag for a weekly demand of m sleeping bags; - C is the total cost (in dollars] of producing a: sleeping bags. m [sleeping bags) p {5} 0 [$1 95 240 13,000 120 235 14,300 180 155 18,500 220 50 21,000 Use this data to create regression models to answer all of the questions below

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Precalculus Functions And Graphs

Authors: Mark Dugopolski

4th Edition

0321849124, 9780321849120

More Books

Students also viewed these Mathematics questions

Question

What background experience do you have?

Answered: 1 week ago

Question

How does accrual accounting differ from cash accounting?

Answered: 1 week ago

Question

How long might such a culture change take? kpo69

Answered: 1 week ago