Concept explainers
29. Advertising A small manufacturing firm collected the following data on advertising expenditures A (in thousands of dollars) and total revenue R (in thousands of dollars).
(a) Draw a
(b) The quadratic function of best fit to these data is
Use this function to determine the optimal level of advertising.
(c) Use the function to predict the total revenue when the optimal level of advertising is spent.
(d) Use a graphing utility to verify that the function given in part (b) is the quadratic function of best fit.
(e) Use a graphing utility to draw a scatter diagram of the data and then graph the quadratic function of best fit on the scatter diagram.
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