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C(x,y) gives the per capita peach consumption where $x is the price (above $1.50 per pound) for peaches and y is the yearly family income
C(x,y) gives the per capita peach consumption where $x is the price (above $1.50 per pound) for peaches and y is the yearly family income in tens of thousands of dollars. Some of the values of C(x,y) are shown in the table below. Per Capita Consumption of Peaches (pounds) | Family income $10,000) | 2 3 4 5 6 0.00 5.0 6.4 7.2 7.8 8.2 8.6 Price (above $1.50 per pound) 0.10 0.20 0.30 0.40 4.9 4.8 4.7 4.7 6.3 6.2 6.1 6.1 7.1 7.0 6.9 6.9 7.7 7.6 7.5 7.4 8.1 8.0 8.0 7.9 8.5 8.4 8.3 8.3 0.50 4.6 6.0 6.8 7.4 7.8 8.2 (a) Find the quadratic cross-sectional model for peach consumption by a family with a yearly income of $60,000. Then complete the model statement below. (4.5 points) (Round all coefficients to 3 decimal places.) c(x, ) = pounds gives the per capita consumption of peaches for a family with yearly income of $60,000, where $x is the price (above $1.50 per pound) of peaches for sxs . (b) Calculate per capita peach consumption for families with a yearly income of $60,000, when the price of peaches is $1.95 per pound. (1 point) pounds (Round your answer to one decimal place.) C(x,y) gives the per capita peach consumption where $x is the price (above $1.50 per pound) for peaches and y is the yearly family income in tens of thousands of dollars. Some of the values of C(x,y) are shown in the table below. Per Capita Consumption of Peaches (pounds) | Family income $10,000) | 2 3 4 5 6 0.00 5.0 6.4 7.2 7.8 8.2 8.6 Price (above $1.50 per pound) 0.10 0.20 0.30 0.40 4.9 4.8 4.7 4.7 6.3 6.2 6.1 6.1 7.1 7.0 6.9 6.9 7.7 7.6 7.5 7.4 8.1 8.0 8.0 7.9 8.5 8.4 8.3 8.3 0.50 4.6 6.0 6.8 7.4 7.8 8.2 (a) Find the quadratic cross-sectional model for peach consumption by a family with a yearly income of $60,000. Then complete the model statement below. (4.5 points) (Round all coefficients to 3 decimal places.) c(x, ) = pounds gives the per capita consumption of peaches for a family with yearly income of $60,000, where $x is the price (above $1.50 per pound) of peaches for sxs . (b) Calculate per capita peach consumption for families with a yearly income of $60,000, when the price of peaches is $1.95 per pound. (1 point) pounds (Round your answer to one decimal place.)
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