Transcribed TextTranscribed Text

Question 1: 9011711 Here are two random variables x and y on a probability space with cardinality 3: s x y 1 1 5 2 2 11 3 3 15 Construct z = f(m,b) for finding the regression line. Find (dz/db)(7,7) •+63 •+64 •+65 •+66 Question 2: 9011801 Carpanian Tobacco market research has developed the following demand schedule for a cigarette lighter: Price Demand 0.82 9.01 2.11 8.13 2.93 7.20 4.13 6.08 5.17 5.16 5.97 3.85 7.19 3.13 8.09 1.96 8.81 0.87 9.87 0.01 where price and demand are expressed in suitable units. Fit a regression line to this demand schedule. Then find the maximum revenue that this product can draw. •+25.20 •+25.25 •+25.30 •+25.35

Solution PreviewSolution Preview

This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden.


The example wasn’t very good at explaining, but basically the revenue function equals
x*regression, so revenue = x(slope*x+intercept). The way that I calculated the slope and
intercept was by inputting the data into Excel and using the regression option – you’re also able to utilize the point-slope formula. I have a regression line of y=-1.021400106x + 10.16689319, these values come from the coefficients column....
$5.00 for this solution

PayPal, G Pay, ApplePay, Amazon Pay, and all major credit cards accepted.

Find A Tutor

View available Calculus Tutors

Get College Homework Help.

Are you sure you don't want to upload any files?

Fast tutor response requires as much info as possible.

Upload a file
Continue without uploading

We couldn't find that subject.
Please select the best match from the list below.

We'll send you an email right away. If it's not in your inbox, check your spam folder.

  • 1
  • 2
  • 3
Live Chats