Find a linear regression model for the weekly cost data, using z as the independent variable. C(x) = mx + k %3D Round m to 1 decimal place, and round k to the nearest integer. Use the weekly cost model to estimate the total weekly cost when the weekly demand is 216.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter1: Expressions And Functions
Section1.5: Descriptive Modeling And Accuracy
Problem 29PFA
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Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows the
price-demand and total cost data, where:
• 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.
a (sleeping bags)
p ($)
C ($)
95
240
13,000
120
235
14,300
180
155
18,500
220
50
21,000
..
Find a quadratic regression equation for the price-demand data, using x as the independent variable.
p = a + bx + cx?
Round a to the nearest integer, round b to 2 decimal places, and round c to 4 decimal places.
Revenue Model
Using the regression model computed above, find a model for the weekly revenue, using x as the
independent variable.
NOTE: Do not calculate another regression. Use the price equation to find a model for revenue
R(x) =p· x.
R(x) = p- x = (a + bx + cx²)x = ax + bx² + cx³
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Transcribed Image Text:Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: • 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. a (sleeping bags) p ($) C ($) 95 240 13,000 120 235 14,300 180 155 18,500 220 50 21,000 .. Find a quadratic regression equation for the price-demand data, using x as the independent variable. p = a + bx + cx? Round a to the nearest integer, round b to 2 decimal places, and round c to 4 decimal places. Revenue Model Using the regression model computed above, find a model for the weekly revenue, using x as the independent variable. NOTE: Do not calculate another regression. Use the price equation to find a model for revenue R(x) =p· x. R(x) = p- x = (a + bx + cx²)x = ax + bx² + cx³ Page 1 of 1 O words * Accessibility. Investigate P Type here to search N
Cost Model
Find a linear regression model for the weekly cost data, using a as the independent variable.
C(2) = mx + k
Round m to 1 decimal place, and roundk to the nearest integer.
Use the weekly cost model to estimate the total weekly cost when the weekly demand is 216.
Round to the nearest dollar.
$4
What
the per unit variable cost? Round to 1 decimal place.
2$
per sleeping bag
What is the marginal weekly cost at production level 102 sleeping bags per week? Round to 1
decimal place.
What is the weekly fixed cost of producing sleeping bags? Round to the nearest integer.
$.
per sleeping bag
%24
Use the cost model to estimate the average weekly cost per bag when the weekly demand is 215.
Round to the nearest cent.
24
per sleeping bag
DFocus
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Transcribed Image Text:Cost Model Find a linear regression model for the weekly cost data, using a as the independent variable. C(2) = mx + k Round m to 1 decimal place, and roundk to the nearest integer. Use the weekly cost model to estimate the total weekly cost when the weekly demand is 216. Round to the nearest dollar. $4 What the per unit variable cost? Round to 1 decimal place. 2$ per sleeping bag What is the marginal weekly cost at production level 102 sleeping bags per week? Round to 1 decimal place. What is the weekly fixed cost of producing sleeping bags? Round to the nearest integer. $. per sleeping bag %24 Use the cost model to estimate the average weekly cost per bag when the weekly demand is 215. Round to the nearest cent. 24 per sleeping bag DFocus O words * Accessibility: Investigate 29% P Type here to search
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