1. A manufacturer of a popular digital camera wholesales the camera to retail outlets throughout the US. Using statistical methods, the financial department produced the price-demand data in Table 1 below, where C(x) is the cost in millions of dollars for manufacturing and selling x million cameras. Table 1 (Cost Data) x (millions) C(x) (million $) 1 5 8 12 Using regression analysis, and analyst produced the following cost function to model the data in Table 1: C(x) = 15619.7x 1

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1. A manufacturer of a popular digital camera wholesales the camera to retail outlets throughout the US. Using
statistical methods, the financial department produced the price-demand data in Table 1 below, where C(x) is the
cost in millions of dollars for manufacturing and selling x million cameras.
Table 1 (Cost Data)
x (millions)
C(x) (million $)
1
5
8
12
Using regression analysis, and analyst produced the following cost function to model the data in Table 1: C(x) =
15619.7x 1<x<15
(a) Plot the data in Table 1. Then sketch a graph of the cost function in the same coordinate system.
(b) Use the revenue function R(x) = x(94.8-5x) to find the company's profit function for this camera. What is its
domain?
Transcribed Image Text:1. A manufacturer of a popular digital camera wholesales the camera to retail outlets throughout the US. Using statistical methods, the financial department produced the price-demand data in Table 1 below, where C(x) is the cost in millions of dollars for manufacturing and selling x million cameras. Table 1 (Cost Data) x (millions) C(x) (million $) 1 5 8 12 Using regression analysis, and analyst produced the following cost function to model the data in Table 1: C(x) = 15619.7x 1<x<15 (a) Plot the data in Table 1. Then sketch a graph of the cost function in the same coordinate system. (b) Use the revenue function R(x) = x(94.8-5x) to find the company's profit function for this camera. What is its domain?
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