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. P ($) C ($) 240 13,000 235 14,300 155 18,500 21,000 x (sleeping bags) 95 120 180 220 50 Use this data to create regression models to answer all of the questions below. Price Model Find a quadratic regression equation for the price-demand data, using a as the independent variable. p= a + bx + cx² Round a to the nearest integer, round b to 2 decimal places, and round c to 4 decimal places. Use this price model to answer question 1-2 below.
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. P ($) C ($) 240 13,000 235 14,300 155 18,500 21,000 x (sleeping bags) 95 120 180 220 50 Use this data to create regression models to answer all of the questions below. Price Model Find a quadratic regression equation for the price-demand data, using a as the independent variable. p= a + bx + cx² Round a to the nearest integer, round b to 2 decimal places, and round c to 4 decimal places. Use this price model to answer question 1-2 below.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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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 x
sleeping bags;
. C is the total cost (in dollars) of producing a sleeping bags.
p ($)
C ($)
240
13,000
235
14,300
18,500
21,000
x (sleeping bags)
95
120
180
220
155
50
Use this data to create regression models to answer all of the questions below.
Price Model
Find a quadratic regression equation for the price-demand data, using as the
independent variable.
p = a + bx cx²
Round a to the nearest integer, round b to 2 decimal places, and round c to 4 decimal
places.
Use this price model to answer question 1-2 below.
Transcribed Image Text:Question 1
Use the price model above to answer this question.
Estimate the price per sleeping bag when the weekly demand is 177. Round to the
nearest cent.
per sleeping bag
Question 2
3
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