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Just want to check if my work is correct, thanks! Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and
Just want to check if my work is correct, thanks!
Yaster Outfitters 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 x sleeping bags; . C is the total cost (in dollars) of producing x sleeping bags. (sleeping p ($) C ($) bags) 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.Yaster Outfitters 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 x sleeping bags; . C is the total cost (in dollars) of producing x sleeping bags. (sleeping p ($) C ($) bags) 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.Price Model Find a quadratic regression equation for the pricedemand data, using a: as the independent variable. p=a+bm+cx2 Round (1, to the nearest integer, round I) to 2 decimal places, and round 0 to 4 decimal places. Use this price model to answer question 1-2 below. Revenue Model Use the price model above to construct a revenue model. Find a model for the weekly revenue, using * as the independent variable. NOTE: Do not calculate another regression. Use the price equation to find a model for revenue R(a) = p . x. R(a = p . x = (at bax+ ca2 Use this revenue model to answer questions 3-8 below.Question 3 3 pts Use the revenue model above to answer this question. What is a? Round to the nearest integer. 112 Question 4 3 pts Use the revenue model above to answer this question. What is 1)? Round to 2 decimal places. 2.59 Question 5 3 pts Use the revenue model above to answer this question. What is 0? Round to 4 decimal places. -0.0131 Question 6 3 pts Use the revenue model above to answer this question. Estimate the weekly revenue when the weekly demand is 129. Round to the nearest dollar. $ 29,427 Question 7 3 pts Use the revenue model above to answer this question. Estimate the marginal weekly revenue when the weekly demand is 122. Round to the nearest cent. $_ per sleeping bag 13,711 Question 8 3 pts Use the revenue model above to answer this question. Estimate the average weekly revenue per bag when the weekly demand is 170. Round to the nearest cent. $_ per sleeping bag 173.7Step by Step Solution
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