Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: ⚫ p is the wholesale price (in dollars) of a sleeping bag for a weekly demand of a sleeping bags; . C is the total cost (in dollars) of producing a sleeping bags. x(sleeping bags) P ($) C ($) 95 240 13,000 120 235 14,300 180 155 18,500 220 50 21,000 Find a quadratic regression equation for the price-demand data, using as the independent variable. p=a+b+cx² Round a to the nearest integer, round 6 to 2 decimal places, and round c to 4 decimal places.
Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: ⚫ p is the wholesale price (in dollars) of a sleeping bag for a weekly demand of a sleeping bags; . C is the total cost (in dollars) of producing a sleeping bags. x(sleeping bags) P ($) C ($) 95 240 13,000 120 235 14,300 180 155 18,500 220 50 21,000 Find a quadratic regression equation for the price-demand data, using as the independent variable. p=a+b+cx² Round a to the nearest integer, round 6 to 2 decimal places, and round c to 4 decimal places.
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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Question
Use the price model above to answer this question.
The graph Y=A+BX+CX2 has Y intercept A. In the context of price-demand for sleeping bags, what is the interpretation of this value?
Group of answer choices
The break-even point is � sleeping bags per week.
When the price is $� per sleeping bag, there is a weekly demand of � sleeping bags.
The break-even point is $� per sleeping bag.
The equilibrium price is $� per sleeping bag.
When the price is $� per sleeping bag, there is no demand for sleeping bags.
The equilibrium quantity is � sleeping bags per week.
When the sleeping bags are free (price = $0), there is a weekly demand of � sleeping bags.
Transcribed Image Text:Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows
the price-demand and total cost data, where:
⚫ p is the wholesale price (in dollars) of a sleeping bag for a weekly demand of a sleeping
bags;
. C is the total cost (in dollars) of producing a sleeping bags.
x(sleeping bags)
P ($)
C ($)
95
240
13,000
120
235
14,300
180
155
18,500
220
50
21,000
Transcribed Image Text:Find a quadratic regression equation for the price-demand data, using as the independent
variable.
p=a+b+cx²
Round a to the nearest integer, round 6 to 2 decimal places, and round c to 4 decimal places.
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