1. A manufacturer of a popular digital camera wholesales the camera to retail outlets throughout the US. Usingstatistical methods, the financial department produced the price-demand data in Table 1 below, where C(x) is thecost in millions of dollars for manufacturing and selling x million cameras.Table 1 (Cost Data)x (millions)C(x) (million $)15812Using regression analysis, and analyst produced the following cost function to model the data in Table 1: C(x) =15619.7x 1

Let's solve the problems step-by-step. Given:Cost function: Revenue function: Tasks:Plot the data…

Answered: 1. A manufacturer of a popular digital…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Consider the following simple linear regression model between the dependent variable, SALES (reflecting monthly sales, in thousands of dollars) and independent variable, ADVERTISING (representing the monthly advertising expenditure, in thousands of dollars): Expected (SALES) = 4.2 - 2.6 ADVERTISING. The value 2.6 in the above regression model represents: A. the value of SALES, on average, when ADVERTISING is zero. B. the change in SALES following a unit decrease in ADVERTISING. C. a ratio of SALES over ADVERTISING as a percentage. D. the proportion of the variation in SALES explained by using ADVERTISING in the regression equation. E. a ratio of ADVERTISING over SALES as a percentage.
The table lists the cost in millions of dollars for a 30-second commercial for selected years. Year 1994 1998 2004 2008 2011 Cost 33.7 34.2 35.0 35.5 35.9 a. Find a linear function f that models the data. b. Estimate the cost in 2010 and compare the estimate to the actual value of $36.6 million. Did your estimate involve interpolation or extrapolation? a. Use linear regression to determine the equation of the line that best fits the data. The linear function is f(x) = (Type an expression using x as the variable. Use integers or decimals for any numbers in the expression. Round to three decimal places as needed.)
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.Relevant Relationship:There is a functional relationship between Price of an IPod Touch,� and Weekly Demand,�.Below is a table of data that have been collected Price,�,($) Weekly Demand,�,(1,000s) 150 207 170 199 190 198 210 185 230 181 250 169 A.. Find the linear model that best fits this data using regression and enter the model below(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)�=�(�)= B. The squared correlation coefficient �2 was 0.95(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)Now answer these two questions using the UNROUNDED model parametersC. What does the model predict will be the weekly demand if the price of an ipod touch is $184 ? (nearest 100)D. According to the model at what should the price be set in order to have a weekly demand of 176,200 ipod Touches? $…
The following table shows worldwide sales and projected sales of a certain type of phone and their average selling prices in 2020, 2022, and 2024. Year 2020 2022 2024 Selling Price ($100) p 6 5 4.5 Sales (billions) q 1 1.2 1.3 Find the regression line. 9(p) = Use the regression line to estimate the demand (in millions of units sold) when the selling price was $250. X million 1.6 Need Help? Read It Master It
An economist was interested in the relation between the disposable income of a family and the amount of money used for food per month. He did a preliminary study on eight randomly selected lower income families. (Each family was of the same size; father, mother and two children). The economist’s data are given in the table below. Food cost (Y) (in hundreds of rand) 55 60 42 40 37 26 39 43 Family disposable income(X) (in hundreds of rand) 30 36 27 20 16 24 19 25 Find the regression linear equation. What is the predicted food cost if the family disposable income is R1800? Find the correlation coefficient & Interpret r. Find the Coefficient of Determination & Interpret the R2.
The table contains price-supply data and price-demand data for corn. Find a linear regression model for the price-supply data where x is supply (in billions of bushels) and y is price (in dollars). Do the same for the price-demand data. Find the equilibrium price for corn. Price ($/bu) Supply (billion bu) Price ($/bu) Demand (billion bu) 2.14 6.41 2.06 9.96 2.25 7.38 2.15 9.42 2.34 7.51 2.26 8.33 2.41 7.78 2.32 8.08 2.46 8.13 2.36 7.86 2.57 8.35 2.48 6.96 ... Question content area right Part 1 Find a linear regression model for the price-supply data where x is supply (in billions ofbushels) and y is price (in dollars). y=enter your response here (Type an equation using x as the variable. Round to two decimal places as needed.)
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.Relevant Relationship:There is a functional relationship between Price of an IPod Touch,p and Weekly Demand,s.Below is a table of data that have been collected Price,p ,($) Weekly Demand,s ,(1,000s) 150 209 170 205 190 200 210 192 230 177 250 175 A.. Find the linear model that best fits this data using regression and enter the model below(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)s=T(p)= C. What does the model predict will be the weekly demand if the price of an ipod touch is $172 ? (nearest 100) can you answer these two questions
To generate a profit from its o'Books e-book service, OHaganBooks.com needs to know how the demand for novels depends on the price it charges. During the first month of the service, it was charging $10 per novel and sold 350. Lowering the price (p) to $5.50 per novel had the effect of increasing demand (q) to 620 novels per month. (a) Use the given data to construct a linear demand equation q(p) per month. q(p) = (b) Use the demand equation you constructed in part (a) to estimate the demand per month if the price were raised to $15 per novel. novels per month (c) Author royalties and copyright fees cost the company an average of $3 per novel, and the monthly cost of operating and maintaining the service amounts to $900 per month. Using this information, determine which of the three prices ($5.50, $10, and $15) would result in the largest profit, and the size of that profit. profit maximizing price $ maximum profit $
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.Relevant Relationship:There is a functional relationship between Price of an IPod Touch,� and Weekly Demand,�.Below is a table of data that have been collected Price,�,($) Weekly Demand,�,(1,000s) 150 217 170 206 190 191 210 185 230 182 250 170 A.. Find the linear model that best fits this data using regression and enter the model below(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)�=�(�)= B. The squared correlation coefficient �2 was 0.95(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)Now answer these two questions using the UNROUNDED model parametersC. What does the model predict will be the weekly demand if the price of an ipod touch is $219 ? (nearest 100)D. According to the model at what should the price be set in order to have a weekly demand of 171,300 ipod Touches? $…
The value of a sports franchise is directly related to the amount of revenue that a franchise can generate. The following data represents the value in 2014 (in $millions) and the annual revenue (in $millions) for the 30 Major League Baseball franchises. Suppose you want to develop a simple linear regression model to predict franchise value based on annual revenue generated. Team Revenue Value Baltimore 245 1000 Boston 370 2100 Chicago White Sox 227 975 Cleveland 207 825 Detroit 254 1125 Houston 175 800 Kansas City 231 700 Los Angeles Angels 304 1300 Minnesota 223 895 New York Yankees 508 3200 Oakland 202 725 Seattle 250 1100 Tampa Bay 188 625 Texas 266 1220 Toronto 226 870 Arizona 211 840 Atlanta 267 1150 Chicago Cubs 302 1800 Cincinnati 227 885 Colorado…
The table contains price-supply data and price-demand data for corn. Find a linear regression model for the price-supply data where x is supply (in billions of bushels) and y is price (in dollars). Do the same for the price-demand data Find the equilibrium price for corn. Price Supply ($/bu) (billion bu) 2.14 2.24 2.38 2.43 2.45 2.54 6.29 7.33 7.69 7.83 8.12 8.23 Price ($/bu) 2.02 2.14 2.24 2.35 2.35 2.42 Demand (billion bu) 9.76 9.47 8.48 8.18 7.72 6.93 XX Find a linear regression model for the price-supply data where x is supply (in billions of bushels) and y is price (in dollars). y=0 (Type an equation using x as the variable. Round to two decimal places as needed.)

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS