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Use your linear regression model for the cost data to estimate the variable cost per treadmill. Round to the nearest dollar. 2$ per treadmill produced

Use your linear regression model for the cost data to estimate the variable cost per treadmill. Round to the nearest dollar. 2$ per treadmill produced

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Use your linear regression model for the cost data to estimate the variable cost per treadmill. Round to the nearest dollar. 24 per treadmill produced Dashboard Calendar To Do Notifications VER TAN TRAMES
Transcribed Image Text:Use your linear regression model for the cost data to estimate the variable cost per treadmill. Round to the nearest dollar. 24 per treadmill produced Dashboard Calendar To Do Notifications VER TAN TRAMES
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 x treadmills, and C is the total cost (in dollars) of producing a treadmills. p ($) C ($) 2,910 1,450 3,634,000 3,415 1,275 3,782,000 4,645 1,123 4,185,000 5,330 918 4,290,000 Use this data to find a linear regression equation for price-demand data, using x 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. lo00 Dashboard Calendar To Do Notifications
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 x treadmills, and C is the total cost (in dollars) of producing a treadmills. p ($) C ($) 2,910 1,450 3,634,000 3,415 1,275 3,782,000 4,645 1,123 4,185,000 5,330 918 4,290,000 Use this data to find a linear regression equation for price-demand data, using x 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. lo00 Dashboard Calendar To Do Notifications
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