Break-Even Analysis The table below contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a treadmill for an annual demand of a treadmills, and C is the total cost (in dollars) of producing a treadmills. x 2,910 3,415 4,645 5,330 p ($) 1,450 1,275 1,123 918 C ($) 3,634,000 3,782,000 4,185,000 4,290,000 Use this data to find a linear regression equation for price-demand data, using as the independent variable: p = ax + b, where a is rounded to 1 decimal place and b is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using as the independent variable: C(x) = cx + d, where c is rounded to the nearest integer and d is rounded to the nearest 10,000. Use these linear regression models to answer questions 11-14 below.
Break-Even Analysis The table below contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a treadmill for an annual demand of a treadmills, and C is the total cost (in dollars) of producing a treadmills. x 2,910 3,415 4,645 5,330 p ($) 1,450 1,275 1,123 918 C ($) 3,634,000 3,782,000 4,185,000 4,290,000 Use this data to find a linear regression equation for price-demand data, using as the independent variable: p = ax + b, where a is rounded to 1 decimal place and b is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using as the independent variable: C(x) = cx + d, where c is rounded to the nearest integer and d is rounded to the nearest 10,000. Use these linear regression models to answer questions 11-14 below.
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![Use the linear regression models above to answer this question.
Estimate the fixed costs. Round to the nearest $10,000.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1b841e7d-1df1-4d45-ba09-72be43b8fd57%2F49490915-140b-4eec-b509-681324b0ead3%2Fmwamulo_processed.png&w=3840&q=75)
Transcribed Image Text:Use the linear regression models above to answer this question.
Estimate the fixed costs. Round to the nearest $10,000.
![Break-Even Analysis
The table below contains price-demand and total cost data for the production of treadmills,
where p is the wholesale price (in dollars) of a treadmill for an annual demand of a treadmills,
and C is the total cost (in dollars) of producing treadmills.
2,910
3,415
4,645
5,330
p ($)
1,450
1,275
1,123
918
C ($)
3,634,000
3,782,000
4,185,000
4,290,000
Use this data to find a linear regression equation for price-demand data, using as the
independent variable:
p = ax + b₁
where a is rounded to 1 decimal place and b is rounded to the nearest integer.
Use this data to find a linear regression model for the cost data, using as the independent
variable:
C(x) = cx +d,
where c is rounded to the nearest integer and dis rounded to the nearest 10,000.
Use these linear regression models to answer questions 11-14 below.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1b841e7d-1df1-4d45-ba09-72be43b8fd57%2F49490915-140b-4eec-b509-681324b0ead3%2Fn76to16_processed.png&w=3840&q=75)
Transcribed Image Text:Break-Even Analysis
The table below contains price-demand and total cost data for the production of treadmills,
where p is the wholesale price (in dollars) of a treadmill for an annual demand of a treadmills,
and C is the total cost (in dollars) of producing treadmills.
2,910
3,415
4,645
5,330
p ($)
1,450
1,275
1,123
918
C ($)
3,634,000
3,782,000
4,185,000
4,290,000
Use this data to find a linear regression equation for price-demand data, using as the
independent variable:
p = ax + b₁
where a is rounded to 1 decimal place and b is rounded to the nearest integer.
Use this data to find a linear regression model for the cost data, using as the independent
variable:
C(x) = cx +d,
where c is rounded to the nearest integer and dis rounded to the nearest 10,000.
Use these linear regression models to answer questions 11-14 below.
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