What is the point estimate for the number of cars sold per week for a sample consisting of the following weeks: 1, 3, 5, 7, 10,
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Alex bought all the string needed for $125.
It costs $18 for the remaining materials to make each puppet.
So if we closely observe then we see that here $125 is the fixed cost because its not going to change with number of puppets.
And the variable cost is $18.
In this case we can model a Total cost function C(x) for for x number of puppets as below
The total cost to make 50 puppets=$1025