Question
Read the instructions carefully and give exact answer. Rating will be given based on quality. A. Find the quadratic regression equation for the price-demand data
Read the instructions carefully and give exact answer. Rating will be given based on quality. A. Find the quadratic regression equation for the price-demand data using x as the independent variable (Round the constant to four decimal places as needed. Round all other values to six decimal places as?needed)
p(x)=
B.Find a linear regression equation for the cost data using x as the independent variable (Round to three decimal places as needed)
C(x)=
C. a) What is the form of the equation for profit? Write the profit function in terms of the variables from the table x, p, and C.
profit=?
b) What is the maximum profit? (Round to the nearest dollar as needed)
c) What is the wholesale price per extreme-cold sleeping bag that should be charged to realize the maximum profit? (Round to the nearest dollar as needed)
The table contains pricedemand and total cost data for the production of extreme-cold sleeping bags, where p is the wholesale price (in dollars) ofa sleeping bag for an annual demand ofx sleeping bags and C is the total cost (in dollars) of producing x sleeping bags Complete parts (A) through (C) below. 950 1 ,200 1 ,900 2,000 240 210 165 125 130,000 155,000 180,000 200,000Step by Step Solution
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