MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Review the table forecasting a company’s profit based on the number of units sold.

Number of Units

Profit ($)

500

–10,000

1,200

3,000

2,500

27,000

3,200

40,000

3,600

45,000

4,300

47,000

5,000

45,000

6,750

20,000

Which statement is the best interpretation of the value 29,864 in the quadratic regression equation?

The company has an initial loss of about $29,864.
The company has an initial profit of about $29,864.
The company needs to sell about 29,864 units to break even.
The company needs to sell about 29,864 units to maximize its profit.
Expert Solution
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Step 1

Introduction:

The predictor variable is the number of units; let us denote it by x. The response variable is the profit ($); let us denote it by y.

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