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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 a sleeping bags; . Cis 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 x 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 x as the independent variable. NOTE: Do not calculate another regression. Use the price equation to find a model for revenue R(x) =px. R(x) = p æ (a+ bæ + ca²)r = ax + bæ + cx3

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 a sleeping bags; . Cis 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 x 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 x as the independent variable. NOTE: Do not calculate another regression. Use the price equation to find a model for revenue R(x) =px. R(x) = p æ (a+ bæ + ca²)r = ax + bæ + cx3

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter1: Expressions And Functions
Section1.5: Descriptive Modeling And Accuracy
Problem 29PFA
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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 a sleeping bags; . Cis the total cost (in dollars) of producing r 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 x as the independent variable. p= a + b + cx? 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 x as the independent variable. NOTE: Do not calculate another regression. Use the price equation to find a model for revenue R(x) =p- I. R(x) = p x= (a + bæ+ ca2)æ = ax + bx2 + cx³
Transcribed Image Text: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 a sleeping bags; . Cis the total cost (in dollars) of producing r 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 x as the independent variable. p= a + b + cx? 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 x as the independent variable. NOTE: Do not calculate another regression. Use the price equation to find a model for revenue R(x) =p- I. R(x) = p x= (a + bæ+ ca2)æ = ax + bx2 + cx³
Cost Model Find a linear regression model for the weekly cost data, using x as the independent variable. C(x) = mx +k Round m to 1 decimal place, and round k 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. What is the per unit variable cost? Round to 1 decimal place. 24 per sleeping bag 1 of 1 O words. Accessibility: Investigate D, Focus P Type here to search 24% 11/ 47 ダー PriSc Insert Delete F6 F7 F8 F9 F10 F11 F12 %23 & 2 4 7 8. Backspace Num Lock + II
Transcribed Image Text:Cost Model Find a linear regression model for the weekly cost data, using x as the independent variable. C(x) = mx +k Round m to 1 decimal place, and round k 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. What is the per unit variable cost? Round to 1 decimal place. 24 per sleeping bag 1 of 1 O words. Accessibility: Investigate D, Focus P Type here to search 24% 11/ 47 ダー PriSc Insert Delete F6 F7 F8 F9 F10 F11 F12 %23 & 2 4 7 8. Backspace Num Lock + II
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