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Yaster Outtters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: o p is the wholesale price
Yaster Outtters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: o p is the wholesale price (in dollars) of a sleeping bag for a weekly demand of as sleeping bags; 0 C is the total cost (in dollars) of producing a: sleeping bags. Use this data to create regression models to answer all of the questions below. a: (sleeping bags) p ($) C (55) 95 240 13,000 120 235 14,300 180 155 18,500 220 50 21,000 Revenue Model Use the price model above to construct a revenue model. Find a model for the weekly revenue, using $ as the independent variable. NOTE: Do not calculate another regression. Use the price equation to nd a model for revenue R($) = p - :13. R(:I:)=p-m=(a+b$+ca;2)$=aw+bsc2+6933 Use this revenue model to answer questions 3-8 below. Question 3 3 pts Use the revenue model above to answer this question. What is a? Round to the nearest integer. Use the revenue model above to answer this question. What is b? Round to 2 decimal places. Question 5 3 pts Use the revenue model above to answer this question. What is 0? Round to 4 decimal places. Question 6 3 pts Use the revenue model above to answer this question. Estimate the weekly revenue when the weekly demand is 169. Round to the nearest dollar. $ , Question 7 3 pts Use the revenue model above to answer this question. Estimate the marginal weekly revenue when the weekly demand is 123. Round to the nearest cent $ per sleeping bag Question 8 3 pts Use the revenue model above to answer this question. Estimate the average weekly revenue per bag when the weekly demand is 170. Round to the nearest cent. $ per sleeping bag
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