pis the wholesale price (in dollars) of a sleeping bag fora weekly demand of z sleeping bags; C is the total cost (in dollars) of producing z sleeping bags. z (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 + cz² 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 æ as the independent variable. NOTE: Do not calculate another regression. Use the price equation to find a model for revenue R(x) = p·x. %3D R(x) = p.x = (a + bx + c²)x = ax + bx² + cz³ Cost Model Find a linear regression model for the weekly cost data, using x as the independent variabl C(x) = mx + k Round m to 1 decimal place, and round k to the nearest integer.
pis the wholesale price (in dollars) of a sleeping bag fora weekly demand of z sleeping bags; C is the total cost (in dollars) of producing z sleeping bags. z (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 + cz² 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 æ as the independent variable. NOTE: Do not calculate another regression. Use the price equation to find a model for revenue R(x) = p·x. %3D R(x) = p.x = (a + bx + c²)x = ax + bx² + cz³ Cost Model Find a linear regression model for the weekly cost data, using x as the independent variabl C(x) = mx + k Round m to 1 decimal place, and round k to the nearest integer.
Elementary Linear Algebra (MindTap Course List)
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Transcribed Image Text:• pis the wholesale price (in dollars) of a sleeping bag for a weekly demand of a sleeping bags;
. Cis the total cost (in dollars) of producing a sleeping bags.
I (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 + ba + cx²
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, fine
model for the weekly revenue, using a 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· æ = (a + bx + cx²)x = ax + bæ² + ca3
Cost Model
Find a linear regression model for the weekly cost data, using a as the independent variable.
= mx + k
Round m to 1 decimal place, and round k to the nearest integer.
ords
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What is m? Round to 1 decimal place.
What is k? Round 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.
24
What is the per unit variable cost? Round to 1 decimal place.
per sleeping bag
What is the marginal weekly cost at production level 102 sleeping bags per week? Round to 1
decimal place.
$.
per sleeping bag
What is the weekly fixed cost of producing sleeping bags? Round to the nearest integer.
%24
Use the cost model to estimate the average weekly cost per bag when the weekly demand is 215.
Round to the nearest cent.
%2.
per sleeping bag
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