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The table below contains the demand and price and total cost data for the production of x widgets. Here I) is the price (in dollars) of a widget for an annual demand of m widgets, and C is the annual total cost (in dollars) of producing a: widgets per year. Price of Widgets Annual widget demand w (widgets) Price per widget P ($/widget) 10 147 20 132 30 125 40 128 50 113 60 97 7O 85 8O 82 9O 79 100 53 In the next few screens, you will be asked to complete the following tasks. . Use the given data to nd a regression line that best ts the price-demand data for price p in dollars as a function of the demand a: widgets. Here, price is the dependent variable, and demand is the independent variable. Find the regression function for price, and write it as p(m) 2 ma: + b. - Use the data to make a scatter plot. Include your regression line on the same plot. Adjust the max/min to display the data in a reasonable way. On the plot, be sure to 0 Make a title for the plot " Price of Widgets". 0 Label your axes. Label the horizontal axis "Annual widget demand", and label the vertical axis "Price per widget ($)". Linear Regression in Google Sheets :5 . ._. Regression Project: Revenue In the next few screens, you will be asked to complete the following tasks. You will use the results of your computations in the Price section. - Recall that revenue is related to price and the number of widgets sold. Assume that the annual widget sales match the annual widget demand, and construct a model for revenue using the model for price that you found in the Price section. Find the model for revenue R(a:), where R(a:) is the total annual revenue in dollars for :1: widgets sold, and write it as R(a:) = (17:2 + be + c. Note: You are using the fact that R(w) = :1: - 12(3)), not creating a table of data. . Use your revenue model to compute R(;z:) for certain values of a3. Give the real-world interpretation of the result of each computation in complete sentences. Be sure to include units. . Use your revenue model R(a;) to determine the number of widgets that you should try to sell in order to maximize revenue. What is the maximum revenue? Be sure to answer in complete sentences and to include units. Explain how you found the results. F!- F!- Recall that revenue is related to price and the number of widgets sold. Assume that the annual widget sales match the annual widget demand, and construct a model for revenue using the model for price that you found in the Price section. Find the model for revenue R(a:), where 12(3) is the total annual revenue in dollars for a: widgets sold, and write it as R(a:) = as? + bx + c. Note: You are using the fact that R(:c) = cc -,p(:c) not creating a table of data. Question 1 0 / 1 Pts Enter the value for a. Question 2 0 / 1 Pts Enter the value for b. Enter the value for c. 151.33 ect Question 4 0 / 1 pts Use the revenue model R(a:) = as? + bx + 0. Compute R(45), rounded to the nearest tenth. 145.78 Use the revenue model R($) = (W2 + be + c you found in the previous part to answer the questions below. Question 1 2 pts Compute R(45), rounded to the nearest tenth. Interpret your ndings in terms of widget sales and revenue in complete sentences. Be sure to include the units on 45 and R(45) in your response. % Question 2 3 pts Determine the number of widgets that you should try to sell in order to maximize revenue. What is the maximum revenue? Be sure to answer in complete sentences and to include units. Explain how you found the results. % Question 2 3 pts Determine the number of widgets that you should try to sell in order to maximize revenue. What is the maximum revenue? Be sure to answer in complete sentences and to include units. Explain how you found the results. Edit View Insert Format Tools Table 12pt v Paragraph v B I U A v .9 v T2 v p Owords > /'