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Find the least-squares curve of the form above to fit the data (4, 1.57), (6, 2.05), (8, 2.5), (10, 2.7), (12, 3.1), (14, 3.6), (16, 3.8), and (18, 4.35), where x and y represent sales and costs in thousands. Produce a graph that shows the data pts and the graph of the cubic approximation.

Find the least-squares curve of the form above to fit the data (4, 1.57), (6, 2.05), (8, 2.5), (10, 2.7), (12, 3.1), (14, 3.6), (16, 3.8), and (18, 4.35), where x and y represent sales and costs in thousands. Produce a graph that shows the data pts and the graph of the cubic approximation.

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter7: Systems Of Equations And Inequalities
Section7.1: Systems Of Linear Equations: Two Variables
Problem 2SE: If you are performing a break-even analysis for a business and their cost and revenue equations are...
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Hello there, can you help me solve the problem with two subparts (b and c)

Problem: (the image is attached)

Subparts:

b. Find the least-squares curve of the form above to fit the data (4, 1.57), (6, 2.05), (8, 2.5), (10, 2.7), (12, 3.1), (14, 3.6), (16, 3.8), and (18, 4.35), where x and y represent sales and costs in thousands. Produce a graph that shows the data pts and the graph of the cubic approximation.

y = __x + (__)x2 + (__)x3

 

c. (the image is attached)

c. If a machine learned the curve you found in (b), what output would it provide for an input of x = 13?
Transcribed Image Text:c. If a machine learned the curve you found in (b), what output would it provide for an input of x = 13?
A simple curve that often makes a good model for the variable cost of a company, as a 2 function of the sales level x, has the form y =B₁x + ß₂ײ + ß3׳. There is no constant term because fixed costs are not included. Complete parts (a) through (c).
Transcribed Image Text:A simple curve that often makes a good model for the variable cost of a company, as a 2 function of the sales level x, has the form y =B₁x + ß₂ײ + ß3׳. There is no constant term because fixed costs are not included. Complete parts (a) through (c).
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