Price Model Find a quadratic regression equation for the price-demand data, using x as the independent variable. p = a + bx + cx² Round a to the nearest integer, round 6 to 2 decimal places, and round c to 4 decimal places. 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. x(sleeping bags) p ($) C ($) 95 240 13,000 120 235 14,300 180 155 18,500 220 50 21,000

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter3: Functions
Section3.3: More On Functions; Piecewise-defined Functions
Problem 88E
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Use the price model above to answer question 1

1)  Estimate the price per sleeping bag when the weekly demand is 195.  Round to the nearest cent.

$ _____per sleeping bag

Price Model
Find a quadratic regression equation for the price-demand data,
using x as the independent variable.
p = a + bx + cx²
Round a to the nearest integer, round 6 to 2 decimal places, and
round c to 4 decimal places.
Transcribed Image Text:Price Model Find a quadratic regression equation for the price-demand data, using x as the independent variable. p = a + bx + cx² Round a to the nearest integer, round 6 to 2 decimal places, and round c to 4 decimal places.
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.
x(sleeping bags)
p ($)
C ($)
95
240
13,000
120
235
14,300
180
155
18,500
220
50
21,000
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. x(sleeping bags) p ($) C ($) 95 240 13,000 120 235 14,300 180 155 18,500 220 50 21,000
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