Question
Prod 17 C = f ( x ) Output [ x ] Cost( 17 ) 100 145000 200 225000 400 245000 600 315000 800 350000
Prod 17 | C = f(x) | |
Output [x] | Cost(17) | |
100 | 145000 | |
200 | 225000 | |
400 | 245000 | |
600 | 315000 | |
800 | 350000 | |
1000 | 370000 | |
1200 | 380000 |
Prod 17 | p = f(x) | Prod 17 | x = f(p) | |
Demand [x] | Price [p] | Price [p] | Demand [x] | |
200 | 800 | 800 | 200 | |
400 | 900 | 900 | 400 | |
600 | 500 | 500 | 600 | |
1200 | 600 | 600 | 1200 | |
1600 | 150 | 150 | 1600 | |
2000 | 50 | 50 | 2000 |
. a. [4] derive the products linear(1storder) trend line equation x= (p).
b. [1]identify the models coefficient of determinationits [(R2)].
2. For this Demand model in x= f(p) form
a. [2]write the numerical value for its slopeandinterpret this value.
b. [2]identifythe models horizontalintercept andinterpret this value.
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