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inear regression models question. There are two break-even points. Find the larger production level where the company breaks even. Round to the nearest treadmill. treadmills

inear regression models question. There are two break-even points. Find the larger production level where the company breaks even. Round to the nearest treadmill. treadmills

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Use the linear regression models above to answer this question. There are two break-even points. Find the larger production level where the company breaks even. Round to the nearest treadmill. treadmills
Transcribed Image Text:Use the linear regression models above to answer this question. There are two break-even points. Find the larger production level where the company breaks even. Round to the nearest treadmill. treadmills
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.
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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