Explanation: The following is an application of Marginal Analysis in Business and Economics. You are required to apply your knowledge of the following: I Construct models [nd the best t trend linesfregression eq uations] I Optimize prot function [find the local extrema] algebraically I Optimize prot function using Excel Solver I Find and analyze the rate of change of prot function I Use Excel Problem. The following table contains pricedemand and total cost data for the production of regular sleeping blankets, where p the wholale price {in dollars] of a sleeping blankets is for an annual demand ofx sleeping blankets and {'2' is the total cost [in dollars] of producing x sleeping blankets: a} Find a quadratic best fit equation for the pricedemand data, using I as the independent variable. [Use Excel] b] Find a linear best t equation for the cost data, using I as the independent variable. [Use Excel] c] By using the quadratic pricedemand equation found in part [a], and the linear cost function found in part [b], nd a best fit equation for prot function P(x), using I as the independent variable. Then plot its graph using given 3: values in the table. [Use Excel] d] Itit-\"hat is the maximum prot? How many sleeping blankets must be produced [demanded] to have the maximum prot? IWhat is the wholesale price per regular sleeping blanket that should be charged to realize the maximum profit? Use the prot function, P(x), you constructed in part [c], and nd the requested values algebiaically. e] Verify your answer for the maximum profit and the number of sleeping blankets that leads to maximum profit you found in part [d] by using Excel Solver. [Hint Apply \"C: Steps to set up the problem in Excef" and the following related steps given in "Module 5Excel Applications\"} f] Find P'(3D] and P'(4], and then interpret the result. Here, use the profit function, 11(1), you constructed in part {c}, and find the requested values algebraically