The data in the table show the daily demand x for cream puffs at a state fair

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The data in the table show the daily demand x for cream puffs at a state fair at various price levels p. If it costs $1 to make a cream puff, use logarithmic regression (p = a + b ln x) to find the price (to the nearest cent) that maximizes profit.

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

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Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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The data in the table show the daily demand x for cream puffs at a state fair

Question:

Demand Price per Cream Puff ($) P 3,125 1.99 3,879 1.89 5,263 1.79 5,792 1.69 6,748 1.59 8,120 1.49

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

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