The quadratic regression equation of company X sales would have a degree of 2
- The quadratic regression equation is y = -507.61x^2 +23372.94x -170697.85
- The profit for selling at $22.75 is $98316.63
The quadratic regression equation
To determine the quadratic regression equation, we make use of a graphing calculator
From the graphing calculator,we have the following calculation summary
- a = -507.61
- b = 23372.94
- c = -170697.85
A quadratic regression equation is represented as:
y = ax^2 + bx + c
So, we have:
y = -507.61x^2 +23372.94x -170697.85
Hence, the quadratic regression equation is y = -507.61x^2 +23372.94x -170697.85
The profit for selling at $22.75
This means that:
x = 22.75
So, we have:
y = -507.61 * 22.75^2 + 23372.94 * 22.75 -170697.85
Evaluate
y = 98316.63
Hence, the profit for selling at $22.75 is $98316.63
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