Solve the problem.
-The market research department for a drug store chain arrived at the demand table below, where y is the number of bottles of multivitamins purchased per month (in thousands) at x dollars per bottle. I) Find a demand equation using the method of least squares.
II) If each bottle of multivitamins costs the drug store chain $4, how should it be priced to achieve a maximum monthly
Profit? [Hint: Use the result from I) with C = 4y, R = xy, and P = R - C.]

Question

Solve the problem.
-The market research department for a drug store chain arrived at the demand table below, where y is the number of bottles of multivitamins purchased per month (in thousands) at x dollars per bottle.  I) Find a demand equation using the method of least squares.
II) If each bottle of multivitamins costs the drug store chain $4, how should it be priced to achieve a maximum monthly
Profit? [Hint: Use the result from I) with C = 4y, R = xy, and P = R - C.]

Quizplus · Accepted Answer

The Answer of Solve the problem.
-The market research department for a drug store chain arrived at the demand table below, where y is the number of bottles of multivitamins purchased per month (in thousands) at x dollars per bottle.  I) Find a demand equation using the method of least squares.
II) If each bottle of multivitamins costs the drug store chain $4, how should it be priced to achieve a maximum monthly
Profit? [Hint: Use the result from I) with C = 4y, R = xy, and P = R - C.]

Solve the Problem. -The Market Research Department for a Drug Store Chain Arrived