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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 z sleeping bags; • C is the total cost (in dollars) of producing a sleeping bags. (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 a as the independent variable. p= a + bx + 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, find a 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· x = (a + bx + cx²)x = ax + bx² + cx³ Use the revenue model to estimate the average weekly revenue per bag when the weekly demand is 190. Round to the nearest cent. $. per sleeping bag

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 z sleeping bags; • C is the total cost (in dollars) of producing a sleeping bags. (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 a as the independent variable. p= a + bx + 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, find a 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· x = (a + bx + cx²)x = ax + bx² + cx³ Use the revenue model to estimate the average weekly revenue per bag when the weekly demand is 190. Round to the nearest cent. $. per sleeping bag

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.6: Exponential And Logarithmic Equations
Problem 68E
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What is the average weekly revenue per bag when the weekly demand is 190?

Yaster Outhtters 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 z sleeping bags. (sleeping bags) P ($) C ($) 95 240 13,000 120 235 14,300 180 155 18,500 220 50 21,000 主 Find a quadratic regression equation for the price-demand data, using x as the independent variable. p= a + bx + cx2 Round a to the nearest integer, round b to 2 decimal places, and round e to 4 decimal places. Revenue Model Using the regression model computed above, find a 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 ax. 12 R(x) = p• = (a + bx + ca²)x = ax+ bæ² + cx³ (x)= p· ¤ = = ax+bx +cx Use the revenue model to estimate the average weekly revenue per bag when the weekly demand is 190. Round to the nearest cent. %$4 per sleeping bag
Transcribed Image Text:Yaster Outhtters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: • p is the wholesale price (in dollars) of a sleeping bag for a weekly demand of a sleeping bags; • C is the total cost (in dollars) of producing z sleeping bags. (sleeping bags) P ($) C ($) 95 240 13,000 120 235 14,300 180 155 18,500 220 50 21,000 主 Find a quadratic regression equation for the price-demand data, using x as the independent variable. p= a + bx + cx2 Round a to the nearest integer, round b to 2 decimal places, and round e to 4 decimal places. Revenue Model Using the regression model computed above, find a 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 ax. 12 R(x) = p• = (a + bx + ca²)x = ax+ bæ² + cx³ (x)= p· ¤ = = ax+bx +cx Use the revenue model to estimate the average weekly revenue per bag when the weekly demand is 190. Round to the nearest cent. %$4 per sleeping bag
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