The table below contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a treadmill for an annual demand of x treadmills, and C is the total cost (in dollars) of producing x treadmills.

 x            p($)        C($) 

2,910     1,450   3,634,000 

3,415    1,275    3,782,000 

4,645     1,123    4,185,000

5,330     918     4,290,000

 

Use this data to find a linear regression equation for price-demand data, using x as the independent variable: p=ax+b

where a is rounded to 1 decimal place and b is rounded to the nearest integer.

Use this data to find a linear regression model for the cost data, using x as the independent variable:

C(x)=cx+d

where c is rounded to the nearest integer and d is rounded to the nearest 10,000.

Use these linear regression models to answer questions:

Use the linear regression models above to answer this question.

Estimate the fixed costs. Round to the nearest $10,000.

Use the linear regression models above to answer this question.

Estimate the variable cost per treadmill. Round to the nearest dollar.

Use the linear regression models above to answer this question.

There are two break-even points. Find the smaller production level where the company breaks even. Round to the nearest treadmill.

 

Use the linear regression models above to answer this question.

There are two break-even points. Find the larger production level where the company breaks even. Round to the nearest treadmill.