Table 3 contains price-demand and total cost data for the production of treadmills, where p is the

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Table 3 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.
Table 3 contains price-demand and total cost data for the

(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  answer-question

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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