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 +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 a 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.
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 +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 a 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.
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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Use the linear regression models above to answer this question.
There are two break-even points. Find the larger production level where the company breaks even. Round to the nearest treadmill.
treadmills
Transcribed Image Text:Use the linear regression models above to answer this question.
There are two break-even points. Find the larger production level where the company breaks
even. Round to the nearest treadmill.
treadmills
Transcribed Image Text:Break-Even Analysis
The table below contains price-demand and total cost data for the production of treadmills,
where p is the wholesale price (in dollars) of a treadmill for an annual demand of treadmills,
and C is the total cost (in dollars) of producing treadmills.
I
2,910
3,415
4,645
5,330
P ($)
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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