Stores commonly offer a cheaper unit price for large quantity purchases. Quantity 1 2 5 10 20 Unit Price $100.00 $80.00 $70.00 $50.00 $40.00 a. Use regression to find a logarithmic equation to model the data. Round the numbers in your equation to 2 decimal places. y = a + bln(x) with a= b = b. Use your equation to find an appropriate unit price for a customer who purchases 15 items. c. Use your equation to find an appropriate unit price for a customer who purchases 25 items.

Stores commonly offer a cheaper unit price for large quantity purchases. Quantity 1 2 5 10 20 Unit Price $100.00 $80.00 $70.00 $50.00 $40.00 a. Use regression to find a logarithmic equation to model the data. Round the numbers in your equation to 2 decimal places. y = a + bln(x) with a= b = b. Use your equation to find an appropriate unit price for a customer who purchases 15 items. c. Use your equation to find an appropriate unit price for a customer who purchases 25 items.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

Stores commonly offer a cheaper unit price for large quantity purchases.
Quantity
1
2
5
10
20
Unit Price
$100.00
$80.00
$70.00
$50.00
$40.00
a. Use regression to find a logarithmic equation to model the data. Round the numbers in your equation to 2
decimal places.
y = a + bln(z) with
You
b
b. Use your equation to find an appropriate unit price for a customer who purchases 15 items.
c. Use your equation to find an appropriate unit price for a customer who purchases 25 items.
$

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