1. Evaluate. 7b, for b= 5
1 answer:
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Answer:
2.0
Step-by-step explanation:
x = age
y = average systolic blood pressure
x₁ = 40 years old, y₁ = 110 systolic blood pressure
x₂ = 50 years old, y₂ = 130 systolic blood pressure
∴ Slope of the regression line is 2.0
Answer:
(a) When 400 donuts are made daily the company's profits is 250 dollars.
(b) The Company should produce 950 donuts daily in order to maximize its profits.
Step-by-step explanation:
Profit function P(x) = - 0.001 x² + 1.9x - 350
where p is the profit and x is the quantity of donuts made daily.
(a) If x = 400, the company's profit is:
P(x) = - 0.001 x² + 1.9x - 350
= - 0.001 (400)² + 1.9(400) - 350
=
= - 160 + 760 - 350
= 760 - 510
= 250
(b) The profit of a firm is maximum when MR = MC or MR - MC = 0 which is also known as break even point. In other words, at break-even point the profit function equals to zero. ∴,
Therefore, the Company should produce 950 donuts daily in order to maximize its profits.