The table contains price-demand and total cost data for the production of extreme-cold sleeping bags, where p is the wholesale price (in dollars) of a sleeping bag for an annual demand of x sleeping bags and C is the total cost (in dollars) of producing x sleeping bags. Complete parts (A) through (C) below (A) Find a quadratic regression equation for the price-demand data, using x as the independent variable p(x) = x² + X+ six decimal places as needed) X 960 1,150 1,900 2,000 P 230 C 135,000 210 150 000 160 180.000 120 200,000

The table contains price-demand and total cost data for the production of extreme-cold sleeping bags, where p is the wholesale price (in dollars) of a sleeping bag for an annual demand of x sleeping bags and C is the total cost (in dollars) of producing x sleeping bags. Complete parts (A) through (C) below (A) Find a quadratic regression equation for the price-demand data, using x as the independent variable p(x) = x² + X+ six decimal places as needed) X 960 1,150 1,900 2,000 P 230 C 135,000 210 150 000 160 180.000 120 200,000

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

The table contains price-demand and total cost data for the production of extreme-cold sleeping bags,
where p is the wholesale price (in dollars) of a sleeping bag for an annual demand of x sleeping bags
and C is the total cost (in dollars) of producing x sleeping bags. Complete parts (A) through (C) below.
(A) Find a quadratic regression equation for the price-demand data, using x as the independent variable
P(x) =
x² +
+ O
(Round the constant to four decimal places as needed. Round all other values to six decimal places as needed)
X+
X
960
1,150
1,900
2.000
230
210
160
120
135.000
150 000
180.000
200 000

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