a. Find the best fit quadratic model for the data listed above. b. Predict the weekly profit if the company charges $22 per unit. c. Predict the price(s) that would cause the company to just break even (to break even means the company would have a profit of $0).
a. Find the best fit quadratic model for the data listed above. b. Predict the weekly profit if the company charges $22 per unit. c. Predict the price(s) that would cause the company to just break even (to break even means the company would have a profit of $0).
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
Problem 93E: Alligators The length in inches and weight in pounds of 25 alligators is shown in the table. Find...
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3. Given the data table below answer the questions that follow.
Price per unit | 5 | 10 | 15 | 20 | 25 | 30 |
weekly profit in thousands | -8256 | -1035 | 485 | 1400 | 820 | -1200 |
a. Find the best fit quadratic model for the data listed above.
b. Predict the weekly profit if the company charges $22 per unit.
c. Predict the price(s) that would cause the company to just break even (to break even means the company would have a profit of $0).
d. According to your model what price would cause the company to have a maximum profit?
e. According to your model what is the company’s predicted maximum profit?
f. The company has decided that as long as they make at least $500 thousand in profit each week they will stay in business. What
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