The following table contains price-demand and total cost data for the production of regular sleeping bags, where
Question:
(A) Find a quadratic regression equation for the price-demand data, using x as the independent variable.
(B) Find a linear regression equation for the cost data, using x as the independent variable.
(C) What is the maximum profit? What is the wholesale price per regular sleeping bag that should be charged to realize the maximum profit? Round answers to the nearest dollar.
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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
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