Yaster Breakfast Supplies is planning to manufacture and market a new toaster. After conducting extensive market...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Yaster Breakfast Supplies is planning to manufacture and market a new toaster. After conducting extensive market surveys, the research department provides the following estimates: a weekly demand of 319 at a price of $13 per toaster a weekly demand of 200 at a price of $17 per toaster The financial department estimates that weekly fixed costs will be $1,441 and variable costs (cost per unit) will be $5. Assume: the relationship between price and demand is linear the cost function in linear Use your models to predict the marginal profit when Yaster is producing and selling 250 toasters per week. Round to the nearest cent. Question 2 Use the linear regression models above to answer this question. Estimate the fixed costs. Round to the nearest $10,000. $ Question 3 Use the linear regression models above to answer this question. Estimate the variable cost per treadmill. Round to the nearest dollar. $ per treadmill produced 2 pts 2 pts Question 4 Use the linear regression models above to answer this question. There are two break-even points. Find the smaller production level where the company breaks even. Round to the nearest treadmill. treadmills Question 5 Use the linear regression models above to answer this question. There are two break-even points. Find the larger production level where the company breaks even. Round to the nearest treadmill. treadmills 2 pts 2 pts Break-Even Analysis The table below contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a treadmill for an annual demand of x treadmills, and C is the total cost (in dollars) of producing a treadmills. x 2,910 3,415 4,645 5,330 p ($) 1,450 1,275 1,123 918 C ($) 3,634,000 3,782,000 4,185,000 4,290,000 Use this data to find a linear regression equation for price-demand data, using x as the independent variable: p = ax + b, where a is rounded to 1 decimal place and b is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using x as the independent variable: C(x) = cx+d, where c is rounded to the nearest integer and d is rounded to the nearest 10,000. Use these linear regression models to answer questions 2-5 below. Yaster Breakfast Supplies is planning to manufacture and market a new toaster. After conducting extensive market surveys, the research department provides the following estimates: a weekly demand of 319 at a price of $13 per toaster a weekly demand of 200 at a price of $17 per toaster The financial department estimates that weekly fixed costs will be $1,441 and variable costs (cost per unit) will be $5. Assume: the relationship between price and demand is linear the cost function in linear Use your models to predict the marginal profit when Yaster is producing and selling 250 toasters per week. Round to the nearest cent. Question 2 Use the linear regression models above to answer this question. Estimate the fixed costs. Round to the nearest $10,000. $ Question 3 Use the linear regression models above to answer this question. Estimate the variable cost per treadmill. Round to the nearest dollar. $ per treadmill produced 2 pts 2 pts Question 4 Use the linear regression models above to answer this question. There are two break-even points. Find the smaller production level where the company breaks even. Round to the nearest treadmill. treadmills Question 5 Use the linear regression models above to answer this question. There are two break-even points. Find the larger production level where the company breaks even. Round to the nearest treadmill. treadmills 2 pts 2 pts Break-Even Analysis The table below contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a treadmill for an annual demand of x treadmills, and C is the total cost (in dollars) of producing a treadmills. x 2,910 3,415 4,645 5,330 p ($) 1,450 1,275 1,123 918 C ($) 3,634,000 3,782,000 4,185,000 4,290,000 Use this data to find a linear regression equation for price-demand data, using x as the independent variable: p = ax + b, where a is rounded to 1 decimal place and b is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using x as the independent variable: C(x) = cx+d, where c is rounded to the nearest integer and d is rounded to the nearest 10,000. Use these linear regression models to answer questions 2-5 below.
Expert Answer:
Related Book For
College Mathematics for Business Economics Life Sciences and Social Sciences
ISBN: 978-0321614001
12th edition
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
Posted Date:
Students also viewed these mathematics questions
-
Describe a natural hazard plan or the planning process to prepare for a natural disaster
-
Yaster Breakfast Supplies is planning to manufacture and market a new toaster. After conducting extensive market surveys, the research department provides the following estimates: a weekly demand of...
-
Topmo Corporation has estimated it will have Factory Overhead cost of $1.2 Million, Direct Materials will be $12.4 Million, Indirect Labor will be $500,000 and Direct Labor Cost will be $3,920,000...
-
Problem 5. A RRP Polar Robot is given by 1 (a) If the homogeneous transformation matrix is: T- Joint link length 11-0.5m, 12-0.25m, 0, 0, r (b) Find the Jacobian Matrix (c) Determine interior...
-
You are responsible for convening a major event in which senior officials from several provincial governments will try to come to an agreement on environmental issues. It is well known that some...
-
Picture this. Your roommate is a total slob. Today, you've decided you've had enough and piled all his/her dirty clothes on his/her bed and vacuumed the room you share. What message did your roommate...
-
ABC Hardware Company began 20x4 with 60,000 units of stock that cost 36,000. During 20x4, ABC purchased goods on credit for 352,500 as follows: Cash payments to suppliers totalled 330,000 during the...
-
Jason Tierro, an inventory clerk at Lexmar Company, is responsible for taking a physical count of the goods on hand at the end of the year. He has been performing this duty for several years. This...
-
Properties of integrals Assume that fof(x) dx f(x) dx = -10. Evaluate the following integrals, if possible. So2f(x) dx b. f(x) dx = 3 and c. Sof(x) dx d. f, 6f(x) dx e. \f(x)\d
-
Which of the following is NOT a factor to be considered in determining a limited-life intangible assets useful life? The expected useful life of any related asset All of the other answers are correct...
-
Consider a market in which there are \(N\) banks and \(N\) buyers of securities. Each bank owns a security that ensures a return \(R\) in the next period. Half of the securities ensure a return...
-
Linlithi Medical provides on-site health screenings for other organizations, and has been hired by the City of Baltimore to conduct the annual health screening of all 250 of Baltimore's bus drivers....
-
Palms Coast Hospital is designing a new building and has determined the closeness ratings between the eight departments that must be located on the ground floor of that structure. These ratings are...
-
Consider the following project management problem: a. What is the expected completion time of this project? b. What is the critical path through this project? Task Immediate Predecessor(s) Duration...
-
An office supply company manufactures paper clips, and even tolerates a small proportion of those paper clips being defective (incorrectly shaped and/or twisted) in its outgoing product. (The company...
-
Weight in pounds ( lbs ) is an example of a / an _ _ _ _ _ _ _ _ _ scale. a . nominal b . ordinal c . ratio d . interval
-
The financial statements of Eastern Platinum Limited (Eastplats) are presented in Appendix A at the end of this textbook. Instructions (a) Does East plats report any investments on its statement of...
-
Dollar/Euro Forwards. Use the following spot and forward bid-ask rates for the U.S. dollar/euro (US$/) from December 10, 2010, to answer the following questions: a. What is the mid-rate for each...
-
Swissie Triangular Arbitrage. The following exchange rates are available to you. (You can buy or sell at the stated rates.) Assume you have an initial SF12,000,000. Can you make a profit via...
-
Aussie Dollar Forward. Use the following spot and forward bid-ask rates for the U.S. dollar/Australian dollar (US$ = A$1.00) exchange rate from December 10, 2010, to answer the following questions:...
Study smarter with the SolutionInn App