Homework Help is Here – Start Your Trial Now!
Math
Statistics
Use the linear regression models above to answer this question. There are two break-even points. Find the smaller production level where the company even. Round to the nearest treadmill. treadmills

Use the linear regression models above to answer this question. There are two break-even points. Find the smaller production level where the company even. Round to the nearest treadmill. treadmills

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
See similar textbooks
icon
Related questions
Question
Use the linear regression models above to answer this question. There are two break-even points. Find the smaller production level where the company breaks even. Round to the nearest treadmill. treadmills Question 14 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 smaller production level where the company breaks even. Round to the nearest treadmill. treadmills Question 14 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 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 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.
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 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 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.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS