PART 1 Total Cost Total Revenue Total Profit 64 points Section A 1 st Order Use Excel's Chart feature to help a 14 derive the product's linear (1st order) trend line equation C f(x) b 1 identify the model's coefficient of determinationits (R2) Section B This section will not be used for PS 1 Section C 1 12 Write the product's linear Revenue R model, assuming this product's current unit price p remains constant over time at $525 Zaub21 Write the product's linear Profit P model, based on the Cost and Revenue models you derived above Z Write the numerical value for the slope m of the C, R and P models Interpret what each value indicates about the magnitude and direction of change in the dependent variable expected to be associated with a 1 unit change in the independent variable Auto Write the numerical value for the vertical intercept of the C, R and P models and interpret each value Femd6 Forecast C, R and P if a x 175 units b x 900 units Qui Calculate how many units r of the product must be produced and sold in order to generate a Profit of $95,341 Section D tudi Calculate how many units x of the product must be produced and sold in order to generate a Profit of $0 00 (i e break even) Bund21 Determine C and R at the quantity x where P $0 00 3 Find the number of product units x that should be sold per sales period in order to optimize this product's R and P and calculate R max and Pmax at these x values Assume market conditions suggest the maximum number of product units x that actually can be sold per sales period may not exceed a 6 850 (restricted domain 0 SXS 850 units) b 6 1,100 (restricted domain 05XS 1,100 units) 4 In Section A above, the product line's given values of x and C were used to derive the most appropriate trend line equation C f(x) a 4 Complete the data matrix shown below by determining the R and P values that would be associated with each given value of x Remember that R (p)(x) and P (R) (C) Rev(11) Profit(11) Output x 100 200 400 600 800 1000 1200 Cost(11) 140000 210000 290000 310000 380000 400000 410000 b 9 Use the completed data matrix from a above to develop a linear C R P system chart that contains appropriate trend lines, trend line equations and (R) values 5 Estimate the product's marginal Cost m , marginal Revenue MR and marginal Profit mP if initially, the number of units x produced (or, produced and sold) is a 3 150 units b 3 1080 units PART 2 DEMAND 21 points Section A p f(x) form 1 1st Order Use the Chart feature of Excel to help a 4 derive the product's linear (1st order) trend line equation p f(x) b 1 identify the model's coefficient of determinationits (R2) Section B x f(p) form 1 1st Order Use the Chart feature of Excel to help a 14 derive the product's linear (1st order) trend line equation x f(p) b 1 identify the model's coefficient of determinationits (R2) 2 For this Demand model in x f(p) form a 2 write the numerical value for its slope and interpret this value b (2) identify the model's horizontal intercept and interpret this value ZuBj Develop the mathematical expression for its Price Elasticity of Demand coefficient n 41,12 A product's elasticity coefficient n, calculated at a specific unit price p, may be interpreted to indicate the percent change in product Demand x in one direction that is associated with a 1 change in unit price p in the opposite direction Calculate the coefficient of elasticity for the present product if currently p $400 Fil Find the price p at which unit elasticity occurs for this product Prod 11 Output x 100 200 400 600 800 1000 1200 C f(x) Cost(11) 140000 210000 290000 310000 380000 400000 410000 Prod 11 Demand x 200 400 600 1200 1600 2000 p f(x) Price p 800 900 500 600 150 50 Prod 11 Price p 800 900 500 600 150 50 x f(p) Demand x 200 400 600 1200 1600 2000 PART 1 Total Cost Total Revenue Total Profit 64 points Section A 1 st Order Use Excel's Chart feature to help a 14 derive the product's linear (1st order) trend line equation C f(x) b 1 identify the model's coefficient of determinationits (R2) Section B This section will not be used for PS 1 Section C 1 12 Write the product's linear Revenue R model, assuming this product's current unit price p remains constant over time at $525 Zaub21 Write the product's linear Profit P model, based on the Cost and Revenue models you derived above Z Write the numerical value for the slope m of the C, R and P models Interpret what each value indicates about the magnitude and direction of change in the dependent variable expected to be associated with a 1 unit change in the independent variable Auto Write the numerical value for the vertical intercept of the C, R and P models and interpret each value Femd6 Forecast C, R and P if a x 175 units b x 900 units Qui Calculate how many units r of the product must be produced and sold in order to generate a Profit of $95,341 Section D tudi Calculate how many units x of the product must be produced and sold in order to generate a Profit of $0 00 (i e break even) Bund21 Determine C and R at the quantity x where P $0 00 3 Find the number of product units x that should be sold per sales period in order to optimize this product's R and P and calculate R max and Pmax at these x values Assume market conditions suggest the maximum number of product units x that actually can be sold per sales period may not exceed a 6 850 (restricted domain 0 SXS 850 units) b 6 1,100 (restricted domain 05XS 1,100 units) 4 In Section A above, the product line's given values of x and C were used to derive the most appropriate trend line equation C f(x) a 4 Complete the data matrix shown below by determining the R and P values that would be associated with each given value of x Remember that R (p)(x) and P (R) (C) Rev(11) Profit(11) Output x 100 200 400 600 800 1000 1200 Cost(11) 140000 210000 290000 310000 380000 400000 410000 b 9 Use the completed data matrix from a above to develop a linear C R P system chart that contains appropriate trend lines, trend line equations and (R) values 5 Estimate the product's marginal Cost m , marginal Revenue MR and marginal Profit mP if initially, the number of units x produced (or, produced and sold) is a 3 150 units b 3 1080 units PART 2 DEMAND 21 points Section A p f(x) form 1 1st Order Use the Chart feature of Excel to help a 4 derive the product's linear (1st order) trend line equation p f(x) b 1 identify the model's coefficient of determinationits (R2) Section B x f(p) form 1 1st Order Use the Chart feature of Excel to help a 14 derive the product's linear (1st order) trend line equation x f(p) b 1 identify the model's coefficient of determinationits (R2) 2 For this Demand model in x f(p) form a 2 write the numerical value for its slope and interpret this value b (2) identify the model's horizontal intercept and interpret this value ZuBj Develop the mathematical expression for its Price Elasticity of Demand coefficient n 41,12 A product's elasticity coefficient n, calculated at a specific unit price p, may be interpreted to indicate the percent change in product Demand x in one direction that is associated with a 1 change in unit price p in the opposite direction Calculate the coefficient of elasticity for the present product if currently p $400 Fil Find the price p at which unit elasticity occurs for this product Prod 11 Output x 100 200 400 600 800 1000 1200 C f(x) Cost(11) 140000 210000 290000 310000 380000 400000 410000 Prod 11 Demand x 200 400 600 1200 1600 2000 p f(x) Price p 800 900 500 600 150 50 Prod 11 Price p 800 900 500 600 150 50 x f(p) Demand x 200 400 600 1200 1600 2000

Question

PART 1  Total Cost Total Revenue Total Profit  64 points  Section A 1  st Order  Use Excel's Chart feature to help    a  14     derive the product's linear (1st order) trend line equation C     f(x)  b   1      identify the model's coefficient of determinationits  (R2)   Section B  This section will not be used for PS 1   Section C 1  12 Write the product's linear Revenue R model, assuming this product's current unit price p remains constant over time at $525  Zaub21 Write the product's linear Profit P model, based on the Cost and Revenue models you derived above  Z  Write the numerical value for the slope  m  of the C, R and P models  Interpret what each value indicates about the magnitude     and   direction of change in the dependent variable expected to be associated with a 1 unit change in the independent variable  Auto Write the numerical value for the vertical intercept of the C, R and P models and interpret each value  Femd6  Forecast C, R and P if    a     x   175 units  b     x   900 units  Qui Calculate how many units r of the product must be produced and sold in order to generate a Profit of $95,341  Section D tudi Calculate how many units x of the product must be produced and sold in order to generate a Profit of $0 00 (i e  break even)  Bund21 Determine C and R at the quantity x where P   $0 00  3  Find the number of product units x that should be sold per sales period in order to optimize this product's R and P and calculate R max and Pmax at these  x  values  Assume market conditions suggest the maximum number of product units x that actually can be sold per sales period may not exceed    a   6     850 (restricted domain  0 SXS 850 units)  b   6      1,100 (restricted domain  05XS 1,100 units)  4  In Section A above, the product line's given values of x and C were used to derive the most appropriate trend line equation C      f(x)  a   4  Complete the data matrix shown below by determining the R and P values that would be associated with each given value of x  Remember that R   (p)(x) and P   (R) (C)  Rev(11) Profit(11) Output  x  100 200 400 600 800 1000 1200 Cost(11) 140000 210000 290000 310000 380000 400000 410000 b   9  Use the completed data matrix from a above to develop a linear C R P system chart that contains appropriate trend lines, trend line equations and  (R)   values  5  Estimate the product's marginal Cost m , marginal Revenue  MR  and marginal Profit mP  if initially, the number of units x produced (or, produced and sold) is    a   3      150 units  b   3      1080 units  PART 2  DEMAND  21 points  Section A  p   f(x) form  1  1st Order  Use the Chart feature of Excel to help    a   4      derive the product's linear (1st order) trend line equation p   f(x)  b   1      identify the model's coefficient of determinationits  (R2)   Section B  x   f(p) form  1  1st Order  Use the Chart feature of Excel to help    a  14     derive the product's linear (1st order) trend line equation x   f(p)  b   1      identify the model's coefficient of determinationits  (R2)   2  For this Demand model in x   f(p) form    a   2      write the numerical value for its slope and interpret this value  b  (2)     identify the model's horizontal intercept and interpret this value  ZuBj Develop the mathematical expression for its Price Elasticity of Demand coefficient n  41,12  A product's elasticity coefficient n, calculated at a specific unit price p, may be interpreted to indicate the percent change in product Demand x in one direction that is associated with a 1  change in unit price p in the opposite direction  Calculate the coefficient of elasticity for the present product if currently p   $400  Fil  Find the price p at which unit elasticity occurs for this product  Prod 11 Output  x  100 200 400 600 800 1000 1200 C   f(x) Cost(11) 140000 210000 290000 310000 380000 400000 410000 Prod 11 Demand  x  200 400 600 1200 1600 2000 p   f(x) Price  p  800 900 500 600 150 50 Prod 11 Price  p  800 900 500 600 150 50 x   f(p) Demand  x  200 400 600 1200 1600 2000 PART 1  Total Cost Total Revenue Total Profit  64 points  Section A 1  st Order  Use Excel's Chart feature to help    a  14     derive the product's linear (1st order) trend line equation C     f(x)  b   1      identify the model's coefficient of determinationits  (R2)   Section B  This section will not be used for PS 1   Section C 1  12 Write the product's linear Revenue R model, assuming this product's current unit price p remains constant over time at $525  Zaub21 Write the product's linear Profit P model, based on the Cost and Revenue models you derived above  Z  Write the numerical value for the slope  m  of the C, R and P models  Interpret what each value indicates about the magnitude     and   direction of change in the dependent variable expected to be associated with a 1 unit change in the independent variable  Auto Write the numerical value for the vertical intercept of the C, R and P models and interpret each value  Femd6  Forecast C, R and P if    a     x   175 units  b     x   900 units  Qui Calculate how many units r of the product must be produced and sold in order to generate a Profit of $95,341  Section D tudi Calculate how many units x of the product must be produced and sold in order to generate a Profit of $0 00 (i e  break even)  Bund21 Determine C and R at the quantity x where P   $0 00  3  Find the number of product units x that should be sold per sales period in order to optimize this product's R and P and calculate R max and Pmax at these  x  values  Assume market conditions suggest the maximum number of product units x that actually can be sold per sales period may not exceed    a   6     850 (restricted domain  0 SXS 850 units)  b   6      1,100 (restricted domain  05XS 1,100 units)  4  In Section A above, the product line's given values of x and C were used to derive the most appropriate trend line equation C      f(x)  a   4  Complete the data matrix shown below by determining the R and P values that would be associated with each given value of x  Remember that R   (p)(x) and P   (R) (C)  Rev(11) Profit(11) Output  x  100 200 400 600 800 1000 1200 Cost(11) 140000 210000 290000 310000 380000 400000 410000 b   9  Use the completed data matrix from a above to develop a linear C R P system chart that contains appropriate trend lines, trend line equations and  (R)   values  5  Estimate the product's marginal Cost m , marginal Revenue  MR  and marginal Profit mP  if initially, the number of units x produced (or, produced and sold) is    a   3      150 units  b   3      1080 units  PART 2  DEMAND  21 points  Section A  p   f(x) form  1  1st Order  Use the Chart feature of Excel to help    a   4      derive the product's linear (1st order) trend line equation p   f(x)  b   1      identify the model's coefficient of determinationits  (R2)   Section B  x   f(p) form  1  1st Order  Use the Chart feature of Excel to help    a  14     derive the product's linear (1st order) trend line equation x   f(p)  b   1      identify the model's coefficient of determinationits  (R2)   2  For this Demand model in x   f(p) form    a   2      write the numerical value for its slope and interpret this value  b  (2)     identify the model's horizontal intercept and interpret this value  ZuBj Develop the mathematical expression for its Price Elasticity of Demand coefficient n  41,12  A product's elasticity coefficient n, calculated at a specific unit price p, may be interpreted to indicate the percent change in product Demand x in one direction that is associated with a 1  change in unit price p in the opposite direction  Calculate the coefficient of elasticity for the present product if currently p   $400  Fil  Find the price p at which unit elasticity occurs for this product  Prod 11 Output  x  100 200 400 600 800 1000 1200 C   f(x) Cost(11) 140000 210000 290000 310000 380000 400000 410000 Prod 11 Demand  x  200 400 600 1200 1600 2000 p   f(x) Price  p  800 900 500 600 150 50 Prod 11 Price  p  800 900 500 600 150 50 x   f(p) Demand  x  200 400 600 1200 1600 2000

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PART 1: Total Cost/Total Revenue/Total Profit [64 points] Section A 1. st Order: Use Excel's Chart feature to help... a. 14 ... derive the product's

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