Cost Model Find a linear regression model for the weekly cost data, using as the independent variable. C(x) = mx + k Round m to 1 decimal place, and round k to the nearest integer. Use this cost model to answer questions Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: ⚫ p is the wholesale price (in dollars) of a sleeping bag for a weekly demand of a sleeping bags; . C' is the total cost (in dollars) of producing a sleeping bags. (sleeping bags) 95 120 180 220 p ($) 240 235 155 50 C($) 13,000 14,300 18,500 21,000 Use this data to create regression models to answer all of the questions below.
Cost Model Find a linear regression model for the weekly cost data, using as the independent variable. C(x) = mx + k Round m to 1 decimal place, and round k to the nearest integer. Use this cost model to answer questions Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows the price-demand and total cost data, where: ⚫ p is the wholesale price (in dollars) of a sleeping bag for a weekly demand of a sleeping bags; . C' is the total cost (in dollars) of producing a sleeping bags. (sleeping bags) 95 120 180 220 p ($) 240 235 155 50 C($) 13,000 14,300 18,500 21,000 Use this data to create regression models to answer all of the questions below.
Chapter3: Polynomial Functions
Section: Chapter Questions
Problem 18T
Related questions
Question
1) What is m? Round to 1 decimal place.
2) What is k? Round to the nearest integer.
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Transcribed Image Text:Cost Model
Find a linear regression model for the weekly cost data, using as the independent variable.
C(x) = mx + k
Round m to 1 decimal place, and round k to the nearest integer.
Use this cost model to answer questions
Transcribed Image Text:Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows
the price-demand and total cost data, where:
⚫ p is the wholesale price (in dollars) of a sleeping bag for a weekly demand of a sleeping
bags;
.
C' is the total cost (in dollars) of producing a sleeping bags.
(sleeping bags)
95
120
180
220
p ($)
240
235
155
50
C($)
13,000
14,300
18,500
21,000
Use this data to create regression models to answer all of the questions below.
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