where p is the wholesale price (in dollars) of a treadmill for an annual demand of r treadmills, and C is the total cost (in dollars) of producing x treadmills. P ($) C ($) 2,910 1,450 3,634,000 3,415 1,275 3,782,000 4,645 1,123 4,185,000 5,330 918 4,290,000 Use this data to find a linear regression equation for price-demand data, using x as the independent variable: p= ax + b, where a is rounded to 1 decimal place and 6 is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using x as the independent variable: C(x) = cx + d, %3D where c is rounded to the nearest integer and d is.rounded to the nearest 10,000.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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There are two break-even points. Find the smaller production level where the company breaks
even. Round to the nearest treadmill.
treadmills
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Calendar
Dashboard
II
BVER TAN
RIVER
TRAMES
Transcribed Image Text:国 There are two break-even points. Find the smaller production level where the company breaks even. Round to the nearest treadmill. treadmills Notifications To Do Calendar Dashboard II BVER TAN RIVER TRAMES
The tapie pelow Cotains pricerdemand and total cOSt data Tor the production of treadmilis,
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.
p ($)
C ($)
2,910
1,450
3,634,000
3,415
1,275
3,782,000
4,645
1,123
4,185,000
5,330
918
4,290,000
Use this data to find a linear regression equation for price-demand data, using x as the
independent variable:
p= ax + b,
where a is rounded to 1 decimal place and 6 is rounded to the nearest integer.
Use this data to find a linear regression model for the cost data, using x 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.
To Do
Notifications
Dashboard
Calendar
Transcribed Image Text:The tapie pelow Cotains pricerdemand and total cOSt data Tor the production of treadmilis, 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. p ($) C ($) 2,910 1,450 3,634,000 3,415 1,275 3,782,000 4,645 1,123 4,185,000 5,330 918 4,290,000 Use this data to find a linear regression equation for price-demand data, using x as the independent variable: p= ax + b, where a is rounded to 1 decimal place and 6 is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using x 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. To Do Notifications Dashboard Calendar
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