Chapter 2.1, Problem 7MP

The financial department using statistical techniques, produced the data in Table, where $C\left(x\right)$ is the cost in millions of dollars for manufacturing and selling $x$ million cameras.

Table Cost Data

Using special analytical techniques (regression analysis), an analyst produced the following cost function to model the Table $6$ data:

$C\left(x\right)=156+19.7x$ $1<x<15$ …… (5)

(a) Plot the data in Table $6$. Then sketch a graph of equation (5) in the same coordinate system.

(b) Using the revenue function from Example 7(B), what is the company’s profit function for this camera, and what is its domain?

(c) Complete Table $7$, computing profits to the nearest million dollars.

(d) Plot the data in Table $7$. Then sketch a graph of the profit function using these points.

(e) Graph the profit function on a graphing calculator.