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Use the linear regression models above to answer this question. There are two break-even points. Find the smaller production level where the company even. Round to the nearest treadmill. treadmills

Use the linear regression models above to answer this question. There are two break-even points. Find the smaller production level where the company even. Round to the nearest treadmill. treadmills

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 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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Use the linear regression models above to answer this question. There are two break-even points. Find the smaller production level where the company breaks even. Round to the nearest treadmill. treadmills Question 14 Use the linear regression models above to answer this question. There are two break-even points. Find the larger production level where the company breaks even. Round to the nearest treadmill. treadmills
Transcribed Image Text:Use the linear regression models above to answer this question. There are two break-even points. Find the smaller production level where the company breaks even. Round to the nearest treadmill. treadmills Question 14 Use the linear regression models above to answer this question. There are two break-even points. Find the larger production level where the company breaks even. Round to the nearest treadmill. treadmills
Break-Even Analysis The table below contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a treadmill for an annual demand of a treadmills, and C is the total cost (in dollars) of producing a treadmills. X 2,910 3,415 4,645 5,330 P ($) 1,450 1,275 1,123 918 C ($) 3,634,000 3,782,000 4,185,000 4,290,000 Use this data to find a linear regression equation for price-demand data, using as the independent variable: P = ax + b, where a is rounded to 1 decimal place and b is rounded to the nearest integer. Use this data to find a linear regression model for the cost data, using a as the independent variable: C(x) = cx + d, where c is rounded to the nearest integer and d is rounded to the nearest 10,000. Use these linear regression models to answer questions 11-14 below.
Transcribed Image Text:Break-Even Analysis The table below contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a treadmill for an annual demand of a treadmills, and C is the total cost (in dollars) of producing a treadmills. X 2,910 3,415 4,645 5,330 P ($) 1,450 1,275 1,123 918 C ($) 3,634,000 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 = ax + 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.
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