Find quadratic regression equation for the price demand data

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Reference no: EM131268958

Maximum profit:-

The following table contains price demand and total cost data for the production of regular 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:

193_Table 3.jpg

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

(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 regular sleeping bag that should be charged to realize the maximum profit? Round answers to the nearest dollar.

Reference no: EM131268958

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