What wholesale price per sleeping bag should be charged to realize maximum weekly profit? What is the wholesale price per sleeping bag that should be charged to realize the maximum weeklyprofit? Round to the nearest cent.O L C C虱F3F4F5F6F7F8PrtScF9F10F11F12&T//YFGKL%3BP* 0044 Yaster Outhtters manufactures and sells extreme-cold sleeping bags. The table below shows theprice-demand and total cost data, where:Revenue Modelpis the wholesale price (in dollars) of a sleeping bag for a weekly demand of a sleeping bags:.Cis the total cost (in dollars) of producing z sleeping bags.Using the regression model computed above, find a model for the weekly revenue, using a as the(sleeping bags)P (S)C ($)independent variable.9524013.000NOTE: Do not calculate another regression. Use the price equation to find a model for revenue12023514,300R(x)= p aæ.18015518,500R(x) = p·x = (a + bx + cx²)x= ax + bx²+ cr³2205021.0001Cost ModelFind a linear regression model for the weekly cost data, using a as the independent variable.C(x) = mx + kFind a quadratic regression equation for the price-demand data, using x as the independent variable.p= a+ bx + cx²Round m to 1 decimal place, and round k to the nearest integer.Round a to the nearest integer, round b to 2 decimal places, and round c to 4 decimal places.Profit ModelUse the models computed to find a model for the weekly profit, using x as the independent variable.The weekly profit model has roots at x = -52.789, x=47.555, and x =202.944, rounded to 3P(z) =r+ux + sx² + tx³decimal places.NOTE: Do not calculate another regression. Use the fact that profit is revenue minus cost.Round r to the nearest integer, round u to 1 decimal place, round s to 2 decimal places, and round tThe marginal weekly profit model has roots at x = -8.488 and x =140.295, rounded to 3to 4 decimal places.decimal places.I.rdsEo* Accessibility: InvestigateO Focus223%1:42 AMLCW77%pe here to search11/17/2021PrtScInsertDeleteF7F8F10F11F12FSF5F9&Backspace567.80%23

Given information: Given data represents the values of the variables x = sleeping bags, p = price and c = cost.Find the cost model: EXCEL software can be used to plot a least squares line on a scatter diagram for the given data. Software Procedure: The step-by-step procedure to plot a least squares line on a scatter diagram using EXCEL software is given below: Open an EXCEL file. Enter the data of Sleeping bags in column A and name it as x. Enter the data of Cost in column B and name it as C. Select Data and go to Insert tab. Select Charts > All charts > Scatter (X Y). Click OK. Select any point on the Scatterplot and left click on it. Select add trendline > linear and click on display equation. The output is as shown below: The cost model is: C(x) = 65.2x + 6674.Find the price model: EXCEL software can be used to plot a least squares line on a scatter diagram for the given data. Software Procedure: The step-by-step procedure to plot a least squares line on a scatter diagram using EXCEL software is given below: Open an EXCEL file. Enter the data of Sleeping bags in column A and name it as x. Enter the data of Price in column B and name it as p. Select Data and go to Insert tab. Select Charts > All charts > Scatter (X Y). Click OK. Select any point on the Scatterplot and left click on it. Select add trendline > polynomial > order = 2 and click on display equation. The output is as shown below: The price model is: p = 112 + 2.59x – 0.0131x2Find the revenue model: The revenue model is as given below: R(x) = p*x = (112 + 2.59x – 0.0131x2)*x = 112x + 2.59x2 – 0.0131x3. Find the profit model: The profit model is: p(x) = R(x) – c(x) = 112x + 2.59x2 – 0.0131x3 – 65.2x – 6674 = 2.59x2 – 0.0131x3 + 46.8x – 6674 Find the maximum weekly profit: The maximum weekly profit is obtained as given below: p(x) = 2.59x2 – 0.0131x3 + 46.8x – 6674 p1(x) = 5.18x – 0.0393x2 + 46.8 = – 0.0393x2 + 5.18x + 46.8 p1(x) = 0 – 0.0393x2 + 5.18x + 46.8 = 0 0.0393x2 – 5.18x – 46.8 = 0 x = 140.295 and x = 8.48813 Maximum profit = 2.59*140.2952 – 0.0131*140.2953 + 46.8*140.295 – 6674 = 14696 Find the wholesale price: p = 112 + 2.59x – 0.0131x2 = 112 + 2.59*140.295 – 0.0131*140.2952 = 218