Maximum profit- the following table contains price demand, Ask an Expert

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Maximum profit:-

The following table contains price demand and total cost data for the production of extremecold sleeping bags, where p is the wholesale price (in dollars) of a sleeping bag for an annual demand of x sleeping bags and C is the total cost (in dollars) of producing x sleeping bags:

(A) Find a quadratic regression equation for the price demand data, using x as the independent variable.

904_Table 4.jpg

(B) Find a linear regression equation for the cost data, using x as the independent variable.

(C) What is the maximum profit? What is the wholesale price per extreme-cold sleeping bag that should be charged to realize the maximum profit? Round answers to the nearest dollar.

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Project Management, Management Studies

Category:- Project Management
Reference No.:- M92023700

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