Table 3 contains price-demand and total cost data for the production of treadmills, where p is the
Question:
(A) Find a linear regression equation for the price-demand data, using x as the independent variable.
(B) Find a linear regression equation for the cost data, using x as the independent variable. Use this equation to estimate the fixed costs and variable costs per treadmill. Round answers to the nearest dollar.
(C) Find the break-even points. Round answers to the nearest integer.
(D) Find the price range for which the company will make a profit. Round answers to the nearest dollar.
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Related Book For
College Mathematics for Business Economics Life Sciences and Social Sciences
ISBN: 978-0321614001
12th edition
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
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