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Lubov Fominskaja [6]
3 years ago
15

Suppose that the weekly price of milk is $3.40 per gallon and MPEP decides to ramp up weekly advertising by 35 percent to $150 (

in hundreds). Use the best-fitting regression model to estimate the weekly quantity of milk consumed after this advertising increase.
Business
1 answer:
nadezda [96]3 years ago
7 0

Answer:

Total Cost increase  5,253.4 unit

Explanation:

given data

weekly price a = $3.40 per gallon

ramp up weekly b = 35%

ramp up weekly  upto x = $150( in hundred)

solution

we will use here the regression equation that is

Y = a + b x    ...........................1

here Y is Total Cost and a is fixed cost and  

b is rate of variability and x is level of activity

so here put value in equation 1 we get

Total Cost Y = 3.40 + 0.35 × ( 15,000)

Total Cost  Y = 3.40 + 5,250

Total Cost increase  5,253.4 unit

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