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Regression Project: Revenue In the next few screens, you will be asked to complete the following tasks. You will use the results of your computations in the Price section. . Recall that revenue is related to price and the number of widgets sold. Assume that the annual widget sales match the annual widget demand, and construct a model for revenue using the model for price that you found in the Price section. Find the model for revenue R(a:), where R(a:) is the total annual revenue in dollars for x widgets sold, and write it as R(m) = (1:132 + be + c. Note: You are using the fact that 12(3)) 2 w - p(a;), not creating a table of data. . Use your revenue model to compute R(:c) for certain values of x. Give the real-world interpretation of the result of each computation in complete sentences. Be sure to include units. - Use your revenue model R(m) to determine the number of widgets that you should try to sell in order to maximize revenue. What is the maximum revenue? Be sure to answer in complete sentences and to include units. Explain how you found the results. Recall that revenue is related to price and the number of widgets sold. Assume that the annual widget sales match the annual widget demand, and construct a model for revenue using the model for price that you found in the Price section. Find the model for revenue R(:c), where R(:c) is the total annual revenue in dollars for :c widgets sold, and write it as R(a:) : amz + bx + c- Note: You are using the fact that R(m) = a: - 39(92), not creating a table of data. Question 1 1 pts Enter the value for a. Question 2 1 pts Enter the value for b. l; 1:) Question 3 1 pts Enter the value for c. Q D Question 4 1 pts Use the revenue model R(a;) : 04:2 + bx + 6. Compute R(45), rounded to the nearest tenth. You may submit this only once, so be sure to check your work before submission. Later portions of the project whi can only be submitted once depend on this model. Use the revenue model R(a:) = 0,552 + be + c you found in the previous part to answer the questions below. D Question 1 2 pts Compute R(45), rounded to the nearest tenth. Interpret your ndings in terms of widget sales and revenue in complete sentences. Be sure to include the units on 45 and R(45) in your response. Edit View Insert Format Tools Table 12pt v Paragraph v B I U A v i v T2 v p Owords
/' Question 2 3 pts Determine the number of widgets that you should try to sell in order to maximize revenue. What is the maximum revenue? Be sure to answer in complete sentences and to include units. Explain how you found the results. Edit View Insert Format Tools Table 12pt v Paragraph v B I U A v A? v T2 v
