Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the top 3 images to help determine the answer for the bottom one. Question 22 Use the prot model above to answer this question.

Use the top 3 images to help determine the answer for the bottom one.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Question 22 Use the prot model above to answer this question. What is t? Round to 4 decimal places. Yaster Outtters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: I p is the wholesale price (in dollars) of a sleeping bag for a weekly demand of a: sleeping bags; - C is the total cost (in dollars) of producing a: sleeping bags. 120 235 14,300 180 155 18,500 Use this data to create regression models to answer all of the questions below. Price Model Find a quadratic regression equation for the price-demand data, using :13 as the independent variable. p = a, + be: + (33:2 Round a to the nearest integer, round b to 2 decimal places, and round a to 4 decimal places. Use this price model to answer question 1-2 below. Cost Model Find a linear regression model for the weekly cost data, using a: as the independent variable. C(33) 2 ma: + 1: Round m to 1 decimal place, and round 1:: to the nearest integer. Use this cost model to answer questions 9-15 below. Prot Model Use the revenue and cost models above to construct a model for prot. Find a model for the weekly prot, using :1: as the independent variable. P(:r;) = r + use + 5:132 + (503 NOTE: Do not calculate another regression. Use the fact that prot is revenue minus cost. Round 1\" to the nearest integer, round 11. to 1 decimal place, round .9 to 2 decimal places, and round t to 4 decimal places. Use this prot model to answer questions 16-29 below

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elementary Linear Algebra

Authors: Ron Larson

8th Edition

1305887824, 9781305887824

More Books

Students also viewed these Mathematics questions

Question

Explain the steps involved in training programmes.

Answered: 1 week ago

Question

What are the need and importance of training ?

Answered: 1 week ago

Question

Speak clearly and distinctly with moderate energy

Answered: 1 week ago

Question

Get married, do not wait for me

Answered: 1 week ago