Problem. The following table contains pricedemand and total cost data for the production of regular sleeping blankets, where the wholesale price (in dollars) of a sleeping blankets is for an annual demand of sleeping blankets and is the total cost (in dollars) of producing sleeping blankets:

	X	P	C(x)
1	2250	100	135000
2	3100	95	185000
3	4750	72	195000
4	5150	51	225000
5	5650	48	250000
6	6100	41	291520

Please only answer parts d, e, and f. and show steps of how to complete each question.

a) Find a quadratic best fit equation for the pricedemand data, using as the independent variable. (Use Excel)

b) Find a linear best fit equation for the cost data, using 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), find a best fit equation for profit function (), using as the independent variable. Then plot its graph using given values in the table. (Use Excel)

d) What is the maximum profit? How many sleeping blankets must be produced (demanded) to have the maximum profit? What is the wholesale price per regular sleeping blanket that should be charged to realize the maximum profit? Use the profit function, (), you constructed in part (c), and find the requested values algebraically.

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 Excel and the following related steps given in Module 5-Excel Applications)

f) Find (3000) and (4000), and then interpret the result. Here, use the profit function, (), you constructed in part (c), and find the requested values algebraically.