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The table below contains price-demand and total cost data for the production of treadmills where p is the wholesale price (in dollars) of a treadmill for an annual demand of treadmil and C is the total cost (in dollars) of producing treadmills. 2.910 3.415 4,645 5.330 P (S) 1.450 1.275 1.123 918 C($) 3,634,000 3,782,000 4,185,000 4.290,000 Use this data to find a linear regression equation for price-demand data, using as the independent variable: p = ax + b₁ where a is rounded to 1 decimal place and bis rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using as the independen variable: C(x) = cz + d. where e is rounded to the nearest integer and d is rounded to the nearest 10,000.

The table below contains price-demand and total cost data for the production of treadmills where p is the wholesale price (in dollars) of a treadmill for an annual demand of treadmil and C is the total cost (in dollars) of producing treadmills. 2.910 3.415 4,645 5.330 P (S) 1.450 1.275 1.123 918 C($) 3,634,000 3,782,000 4,185,000 4.290,000 Use this data to find a linear regression equation for price-demand data, using as the independent variable: p = ax + b₁ where a is rounded to 1 decimal place and bis rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using as the independen variable: C(x) = cz + d. where e is rounded to the nearest integer and d is rounded to the nearest 10,000.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Estimate the fixed costs.  Round to the nearest $10,000.

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The table below contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a treadmill for an annual demand of treadmills, and C is the total cost (in dollars) of producing treadmills. I 2,910 3.415 4,645 5,330 P ($) 1,450 1.275 1,123 918 C ($) 3,634,000 3,782,000 4,185,000 4,290,000 Use this data to find a linear regression equation for price-demand data, using as the independent variable: p = ax + b. where a is rounded to 1 decimal place and b is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using as the independent variable: C(x) = cx + d. where c is rounded to the nearest integer and d is rounded to the nearest 10,000.
Transcribed Image Text:The table below contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a treadmill for an annual demand of treadmills, and C is the total cost (in dollars) of producing treadmills. I 2,910 3.415 4,645 5,330 P ($) 1,450 1.275 1,123 918 C ($) 3,634,000 3,782,000 4,185,000 4,290,000 Use this data to find a linear regression equation for price-demand data, using as the independent variable: p = ax + b. where a is rounded to 1 decimal place and b is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using as the independent variable: C(x) = cx + d. where c is rounded to the nearest integer and d is rounded to the nearest 10,000.
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