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The following table contains price-demand and total cost data for the production of treadmills, where p is the wholesale price (in dollars) of a
The following table 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 x treadmills and C is the total cost (in dollars) of producing x treadmills.xp ($)C ($)2,9101,4353,650,0003,4151,2803,870,0004,6451,1254,190,0005,3309104,380,000a.Find a linear 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. Use this equation to estimate the fixed costs and the variable costs per treadmill. c.Graph the cost function and the revenue function in same diagram.d.Find the break-even points. e.Find the price range for which the company will make a profit.
