The table to the right contains price-demand and total cost data for the production of projectors, where p is the wholesale price (in dollars) of a projector for an annual demand of x projectors and C is the total cost (in dollars) of producing x projectors. Answer the following questions (A)-(D). X 270 360 520 780 p($) 592 413 (B) Find a linear regression equation for the cost data, using x as the independent variable. y=0 (Type an expression using x as the variable. Use integers or decimals for any numbers i the expression. Round to two decimal places as needed.) Use the linear regression equation found in the previous step to estimate the fixed costs and variable costs per projector. The fixed costs are $ (Round to the nearest dollar as needed.) 186 56 C($) 115,000 120.600 165,000 193,000 (A) Find a quadratic regression equation for the price-demand data, using x as the independent variable. y=0 (Type an expression using x as the variable. Use integers or decimals for any numbers in the expression. Round the coefficients to seven decimal places as needed. Round the constant ter three decimal places as needed.)

The table to the right contains price-demand and total cost data for the production of projectors, where p is the wholesale price (in dollars) of a projector for an annual demand of x projectors and C is the total cost (in dollars) of producing x projectors. Answer the following questions (A)-(D). X 270 360 520 780 p($) 592 413 (B) Find a linear regression equation for the cost data, using x as the independent variable. y=0 (Type an expression using x as the variable. Use integers or decimals for any numbers i the expression. Round to two decimal places as needed.) Use the linear regression equation found in the previous step to estimate the fixed costs and variable costs per projector. The fixed costs are $ (Round to the nearest dollar as needed.) 186 56 C($) 115,000 120.600 165,000 193,000 (A) Find a quadratic regression equation for the price-demand data, using x as the independent variable. y=0 (Type an expression using x as the variable. Use integers or decimals for any numbers in the expression. Round the coefficients to seven decimal places as needed. Round the constant ter three decimal places as needed.)

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4A: Problems In Applying The Linear Regression Model

Section: Chapter Questions

Problem 2E

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