Question

Regression equations are created by modeling data, such as the following:

Profit = (Cost Per Item × Number of Items) – Constant Charges

In this equation, constant charges may be rent, salaries, or other fixed costs. This includes anything that you have to pay for periodically as a business owner. This value is negative because this cost must be paid each period and must be paid whether you make a sale or not.

Your company may wish to release a new e-reader device. Based on data collected from various sources, your company has come up with the following regression equation for the profit of

Answer 1

Regression equations are created by modeling data, such as the following:

Profit = (Cost Per Item × Number of Items) – Constant Charges

In this equation, constant charges may be rent, salaries, or other fixed costs. This includes anything that you have to pay for periodically as a business owner. This value is negative because this cost must be paid each period and must be paid whether you make a sale or not.

Your company may wish to release a new e-reader device. Based on data collected from various sources, your company has come up with the following regression equation for the profit of the new e-reader:

Profit = $0.15 × number of e-readers sold – $28

Or, assuming x = the number of e-readers sold, this would be the same regression equation:

Profit = 0.15x – 28



In this case, the values are given in thousands (i.e., the cost of making an individual e-reader will be $150 [0.15 × 1,000], with $28,000 [28 * 1,000] in constant charges).
Answer the following questions based on the given regression equation:

1.Using the graphing program that you downloaded, graph the profit equation. Discuss the meaning of the x- and y-axis values on the graph. (Hint: Be sure to label the axis)
2.Based on the results of the graph and the profit equation provided, discuss the relationship between profits and number of e-readers produced. (Hint: Consider the slope and y-intercept.)
3.If the company does not sell a single e-reader, how much is lost ? Mathematically, what is this value called in the equation?
4.If the company sells 5,000 e-readers, how much will the company make (or lose)?
5.If profit must equal 100 thousand, how many e-readers will your company need to sell? (Round up to the nearest e-reader.)
6.If your company is hoping to break even, how many e-readers will need to be sold to accomplish this? (Round up to the nearest e-reader.)Please submit your assignment.
***Access Lab Write Resources' how-to instructional guide to regression graphing in Microsoft Excel' by clicking here.***

Answer 2

Hi
What would you like help with? How much can you do?

Answer 3

I did some of my gragh and I will try to send it to you so you can see what to do with it then I need to answer the questions 3 - 6

Answer 4

Sounds great.

Answer 5

I am not sure how to send you the gragh

Answer 6

There is a draw button below.

Answer 7

Or you can use the attach file button to attach a pdf or similar. or you can tell me what it looks like.

Answer 8

I trying to copy but it won't let me

Answer 9

I'll do a sketch and you can tell me if it looks like that, and what the numbers are.

Answer 10

k

Answer 11

You can draw on it - use the little pencil in the top right hand corner

Answer 12

ll It something like that I will try copy and pasting it on the draw board

Answer 13

I don't have that package. YOu need to save as a pdf or png or gif or jpg

Answer 14

do you see my attachement

Answer 15

No I don't have that package. see if you can make a pdf or png or gif or similar. Or copy and paste to Word and save as a pdf.

Answer 16

what is pdf

Answer 17

It is a file type that anyone can see. Word will save as a pdf. you use the save as button.

Answer 18

k I will try

Answer 19

good luck

Answer 20

I'm just going to hang out the washing, so don't panic if I don't reply for a bit.

Answer 21

I saved it so what do do now

Answer 22

Try attaching it

Answer 23

on the bottom of my screen I have equation draw and attach file you don't have that

Answer 24

You have still sent a .grf file. You need to send a .doc or .pdf file.
In your graphing packae, see what formats you can save as

Answer 25

check the attachment

Answer 26

what graphing package is it?

Answer 27

It is still a .grf file.

Answer 28

yes push that and see what you get

Answer 29

that is the only file iti is under

Answer 30

I did. I can't view a .grf file as it is in the format that your graphing package uses and I don't have that graphing package. YOu need to save it as a different format.

Answer 31

What is the name of the graphing package?

Answer 32

I will try or I can try drawing it

Answer 33

What is the name of the graphing package?

Answer 34

try this

Answer 35

NOpe. Please tell me the name of the package

Answer 36

I don't no what the name of the package is but here is the web sight got the gragh from www. padowan.dk/graph

Answer 37

I'll take a look. In the meantime use the draw button below to do a little sketch.

Answer 38

I had a look at the FAQ on the website.
YOu need to Q: How to create a PDF file from Graph?
A: You can choose to save as PDF in the File|Save as image dialog.
So go to FIle, then save as image, then choose PDF.

Answer 39

I am sorry that I am having so much trouble Do you have a e-mail address maybe I can send you by e-mail

Answer 40

I'm afraid that still has a .grf ending. It should be graph1.pdf

Answer 41

NO that won't help as I don't have the graphing package. I'm on a mac and the package is windows. Just sketch it - it should just be a straight line!

Answer 42

It should look like that. Does it?

Answer 43

k

Answer 44

Does it look like the one I drew? Click on the little pencil and add the numbers

Answer 45

This interface is not familiar to you yet.
Tell me what the numbers are where the sloping line cuts the axes.