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Question 11 Use the linear regression models above to answer this question. Estimate the fixed costs. Round to the nearest $10,000. $

Question 11 Use the linear regression models above to answer this question. Estimate the fixed costs. Round to the nearest $10,000. $

Intermediate Algebra
Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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Break-Even Analysis The table below contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a treadmill for an annual demand of a treadmills, and C is the total cost (in dollars) of producing a treadmills. 2,910 3,415 4,645 5,330 P ($) 1,450 1,275 1,123) 918 C ($) 3,634,000 4 3,782,000 4,185,000 4,290,000 Use this data to find a linear regression equation for price-demand data, using as the independent variable: p = az + b, where a is rounded to 1 decimal place and b is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using a as the independent variable: C(x) = cx+d, where c is rounded to the nearest integer and d is rounded to the nearest 10,000. Use these linear regression models to answer questions 11-14 below.
Transcribed Image Text:Break-Even Analysis The table below contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a treadmill for an annual demand of a treadmills, and C is the total cost (in dollars) of producing a treadmills. 2,910 3,415 4,645 5,330 P ($) 1,450 1,275 1,123) 918 C ($) 3,634,000 4 3,782,000 4,185,000 4,290,000 Use this data to find a linear regression equation for price-demand data, using as the independent variable: p = az + 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 a 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 11-14 below.
Question 11 Use the linear regression models above to answer this question. Estimate the fixed costs. Round to the nearest $10,000. $
Transcribed Image Text:Question 11 Use the linear regression models above to answer this question. Estimate the fixed costs. Round to the nearest $10,000. $
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