Question: Data: The table below shows price-demand and total cost data for the production of projectors. In the table p is the wholesale price (in dollars)

Data: The table below shows price-demand and total cost data for the production of projectors. In the table p is the wholesale price (in dollars) of a projector for an annual demand of X projectors and C is the total cost (in dollars) of producing X projectors.

X P C

1943 1035 900

3190 581 1130

4570 405 1241

6490 124 1800

7330 85 1620

Price-Demand:

1. Use desmos to make a scatter plot of p vs X.

2. Use desmos to determine the regression line that best fits the scatter plot from Question 1. Write down the equation of the regression line in the form p(x) = mx + b.

Revenue:

15. Using your equation from Question 2, write down the revenue function R(x). Use desmos to graph the revenue function.

16. Determine the number of units that will maximize the revenue.

17. What is the maximum revenue?

18. What are the break-even points?

19. Using interval notation, describe the range of units that will keep revenue positive.

Note: I just need 15 - 19 answered please.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!