Regression equations are used to represent the relationship between the x and y variables.
- The quadratic regression equation is [tex]\mathbf{y =-6.407 X^2 +216.721 X -975.561}[/tex]
- The profit for a selling price of $14.25 is $812
To determine the quadratic regression equation, we make use of a graphic calculator
Using a graphing calculator, we have the quadratic regression equation to be [tex]\mathbf{y =-6.407 X^2 +216.721 X -975.561}[/tex]
When the selling price is $14.25, it means that:
[tex]\mathbf{x = 14.25}[/tex]
So, we have:
[tex]\mathbf{y =-6.407 \times 14.25^2 +216.721 \times 14.25 -975.561}[/tex]
Evaluate the exponents
[tex]\mathbf{y =-6.407 \times 203.0625+216.721 \times 14.25 -975.561}[/tex]
Evaluate the products
[tex]\mathbf{y =-1301.0214375+3088.27425 -975.561}[/tex]
Evaluate like terms
[tex]\mathbf{y =811.6918125}[/tex]
Approximate to the nearest dollar
[tex]\mathbf{y =812}[/tex]
Hence, the profit for a selling price of $14.25 is $812
Read more about regression equations at:
https://brainly.com/question/7656407
