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Use Excel to find the numerical answers for each problem. Your Excel columns and work need to be clearly labeled. 1. Many businesses spend money
Use Excel to find the numerical answers for each problem. Your Excel columns and work need to be clearly labeled. 1. Many businesses spend money each year on advertising in order to stimulate sales of their products. The data given in the table below show the approximate increase in sales (rate of change = derivative of revenue) in thousands of dollars that an additional $100 spent on advertising , at various levels, can be expected to generate. a) [10 pts] Use Excel and the data given to find a good approximation of the accumulated revenue for this company when spending between $2500 and $17,500 on advertising using the ACTUAL DATA, and the methods we use in this course. Show all your work in Excel and state your answers in a text box region. b) [5 pts] Use Excel to graph the data for R'(x) and find a regression model for the data above using ONLY one of the six functions we use in Business Calculus. Round coefficients to 4 decimal places and place the equation on the graph. c) [10 pts] Remember, the point of diminishing return is the point of inflection on the revenue function (which is NOT shown), where the second derivative would be zero. Using the equation that you found in part b, manually find the equation and put this is a text region. Next produce an input/output table of in Excel and use solver to find where and changes sign, to find the x value of the point of diminishing return of the revenue function Interoret the meaning of this value using a complete sentence. Use Excel to find the numerical answers for each problem. Your Excel columns and work need to be clearly labeled. 1. Many businesses spend money each year on advertising in order to stimulate sales of their products. The data given in the table below show the approximate increase in sales (rate of change = derivative of revenue) in thousands of dollars that an additional $100 spent on advertising , at various levels, can be expected to generate. a) [10 pts] Use Excel and the data given to find a good approximation of the accumulated revenue for this company when spending between $2500 and $17,500 on advertising using the ACTUAL DATA, and the methods we use in this course. Show all your work in Excel and state your answers in a text box region. b) [5 pts] Use Excel to graph the data for R'(x) and find a regression model for the data above using ONLY one of the six functions we use in Business Calculus. Round coefficients to 4 decimal places and place the equation on the graph. c) [10 pts] Remember, the point of diminishing return is the point of inflection on the revenue function (which is NOT shown), where the second derivative would be zero. Using the equation that you found in part b, manually find the equation and put this is a text region. Next produce an input/output table of in Excel and use solver to find where and changes sign, to find the x value of the point of diminishing return of the revenue function Interoret the meaning of this value using a complete sentence
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