Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: • pis 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 z sleeping bags.
Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: • pis 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 z sleeping bags.
Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter2: Matrices
Section2.CR: Review Exercises
Problem 89CR: Cellular Phone Subscribers The table shows the numbers of cellular phone subscribers y in millions...
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What is s?
Transcribed Image Text:Yaster Outhtters manufactures and sells extreme-cold sleeping bags. The table below shows the
price-demand and total cost data, where;
• pis 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 z sleeping bags.
($) d
240
(sleeping bags)
13.000
95
120
235
180
155
220
50
Find a quadratic regression equation for the price-demand data, using x as the independent variable.
p= a + bx + 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 z as the
independent variable.
NOTE: Do not calculate another regression. Use the price equation to find a model for revenue
T d= (x)H
R(x) = p· r = (a + bx+ cz²)x = ax + bx² + cx²
(2)
³
Cost Model
Find a linear regression model for the weekly cost data, using x as the independent variable.
Round m to 1 decimal place, and round k to the nearest integer.
(x))
Profit Model
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Profit Model
Use the models computed to find a model for the weekly profit, using a as the independent variable.
P(x) =r+ux + sx2 + tæ3
NOTE: Do not calculate another regression. Use the fact that profit is revenue minus cost.
Round r to the nearest integer, round u to 1 decimal place, round s to 2 decimal places, and round t
to 4 decimal places.
What is s? Round to 2 decimal places.
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