Yter Otes mantacures and sels eme cold eping bie The te belon shon the price-demand 1 dota where Revenue Model dolan ef ing bg forwely demand of seeping bep patewholeule price Cktetcot ndardf proucingsleeping bags Using the regression model computed above, find a model for the weekly revenue. using as the independent variable. beeping bep 240 13.000 NOTE: Do not calculate another regression. Use the prike equation to find a model for revenue 120 R(z) - p - z. 225 54300 155 R(2) - p - z = (a + bz + cz²)x- az + bz² + cr 220 50 21.000 Cost Model Find a linear regression model for the weekly cost data, L
Yter Otes mantacures and sels eme cold eping bie The te belon shon the price-demand 1 dota where Revenue Model dolan ef ing bg forwely demand of seeping bep patewholeule price Cktetcot ndardf proucingsleeping bags Using the regression model computed above, find a model for the weekly revenue. using as the independent variable. beeping bep 240 13.000 NOTE: Do not calculate another regression. Use the prike equation to find a model for revenue 120 R(z) - p - z. 225 54300 155 R(2) - p - z = (a + bz + cz²)x- az + bz² + cr 220 50 21.000 Cost Model Find a linear regression model for the weekly cost data, L
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
What is the maximum weekly profit?
Transcribed Image Text:What is the maximum weekly profit? Round to the nearest dollar.
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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
Revenue Model
pis 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 r sleeping bags.
Using the regression model computed above, find a model for the weekly revenue, using x as the
independent variable.
z (sleeping bags)
P (S)
C (S)
95
240
13.000
NOTE: Do not calculate another regression. Use the price equation to find a model for revenue
120
235
14,300
R(x) = p· x.
180
155
18,500
R(x) = p.x = (a + bx + ca²)a
= ar + bx² + cr³
220
50
21.000
Cost Model
Find a linear regression model for the weekly cost data, using x as the independent variable.
Find a quadratic regression equation for the price-demand data, using x as the independent variable.
C(x) = mx + k
p= a+ bx + cx²
Round 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 Model
Use 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 3
P(z) =T+ux + sx2 + ta3
decimal 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 roundt
The marginal weekly profit model has roots at x = -8.488 and x =
140.295, rounded to 3
%3D
to 4 decimal places.
decimal places.
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