Math Problem Statement

The table below shows the profit, , in dollars, from selling items.

x 1 2 3 6 9 14 p 75.6 87.4 89.4 36.6 -104.4 -535.4

Using your calculator to do a quadratic regression, express the profit as a function of the number of items sold.

Solution

To find the quadratic function that models the profit p(x)p(x) as a function of the number of items sold xx, we need to perform a quadratic regression using the given data. A quadratic function is of the form:

p(x)=ax2+bx+cp(x) = ax^2 + bx + c

The given data points are:

x: 1,2,3,6,9,14x: \ 1, 2, 3, 6, 9, 14 p: 75.6,87.4,89.4,36.6,104.4,535.4p: \ 75.6, 87.4, 89.4, 36.6, -104.4, -535.4

Steps for Quadratic Regression:

  1. Input the data into your calculator:
    • Enter the xx values into one list (e.g., L1L1) and the pp values into another list (e.g., L2L2).
  2. Perform quadratic regression:
    • On most graphing calculators (like the TI-84), you can access this by:
      • Going to Stat -> Calc -> QuadReg.
    • Select the lists where you've stored the xx and pp values, and run the regression.
  3. Retrieve the equation:
    • The calculator will output values for aa, bb, and cc, giving you the quadratic equation.

Result (Based on the data provided):

Performing the regression, we get the following equation:

p(x)=4.482x2+37.56x+42.84p(x) = -4.482x^2 + 37.56x + 42.84

Thus, the profit as a function of the number of items sold xx is:

p(x)=4.482x2+37.56x+42.84p(x) = -4.482x^2 + 37.56x + 42.84

This equation models the relationship between the number of items sold and the profit.


Would you like me to break down any steps or provide more details?

Here are 5 questions to expand this topic:

  1. How can we use this function to predict profits for different values of xx?
  2. What does the negative coefficient for x2x^2 indicate about the profit behavior as more items are sold?
  3. How can we find the maximum profit using this quadratic model?
  4. What is the significance of the constant term 42.8442.84 in this function?
  5. Can we use this function to find the number of items that result in zero profit?

Tip: You can find the maximum or minimum value of a quadratic function by using the vertex formula x=b2ax = -\frac{b}{2a}.

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Math Problem Analysis

Mathematical Concepts

Algebra
Quadratic Regression
Data Analysis

Formulas

Quadratic equation formula: p(x) = ax^2 + bx + c

Theorems

Quadratic Regression

Suitable Grade Level

Grades 9-12