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17,000 harnburgers on qame nichl When tha cost 56.30 Rach Ilo load corcessicnaite sold an1 average prlce Unta tecently; hambuigcts Ihe cily sports Fhga 56 70 , ham...

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17,000 harnburgers on qame nichl When tha cost 56.30 Rach Ilo load corcessicnaite sold an1 average prlce Unta tecently; hambuigcts Ihe cily sports Fhga 56 70 , hamburger sules dropaed oll wvenaqe 13,000 per nght. was rnlsed Iear demand culvo;find tha price humburgor thal wil maximiza Ihe nghilv hambwrrger rovenue Assuming - pot hnmnburgur find Ihe pk" omtuget that nlghth (6) I tfo concoseionaire had fixed . cobtb 52 000 par Mpht Jd Uws variuble coat I $ halmmdurtter prolt Unode dotuuaIIU c

17,000 harnburgers on qame nichl When tha cost 56.30 Rach Ilo load corcessicnaite sold an1 average prlce Unta tecently; hambuigcts Ihe cily sports Fhga 56 70 , hamburger sules dropaed oll wvenaqe 13,000 per nght. was rnlsed Iear demand culvo;find tha price humburgor thal wil maximiza Ihe nghilv hambwrrger rovenue Assuming - pot hnmnburgur find Ihe pk" omtuget that nlghth (6) I tfo concoseionaire had fixed . cobtb 52 000 par Mpht Jd Uws variuble coat I $ halmmdurtter prolt Unode dotuuaIIU curva, Ilnd Iha [ico hombargot Ial Mn mexkuza Ihe Wqhby harnbat Vovutwio ALuununo Ihe hamburgel prlcu Ihat WMl maximlze Ite ninhely hnm burget fuvuue (Round Uw neare:| cam 05 [ Mecd !



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Use the following situation to answer Exercises 4–20. A company produces a security device known as Toejack. Toejack is a computer chip that parents attach between the toes of a child, so parents can track the child’s location at any time using an online system. The company has entered into an agreement with an Internet service provider, so the price of the chip will be low. Set up a demand function—a schedule of how many Toejacks would be demanded by the public at different prices.

Examine the data to see if there is any relationship between the price and the quantity demanded. Determine the correlation coefficient between price and demand, rounded to nearest hundredth. Explain the significance of the correlation coefficient.

Okay, today, I'm going to show you how to do in this question. First thing, the question is so so the question requires asked to find the maximum point for this can to kind of application. So it's the best way here. We use the calculus. So first thing we need to write down the equation. Then we can take the derivative from the maximum or minimum. So according to this question, to recover us used a linear equation on Indian relationships. So we have two points here when the price equal to four and we can we can sell 10,000 and price equally. Four point porking. I guess we can sell 1000 1000. So if we knew these two points and we can use the relationship like how many hamburger we can sell and the price right for calculated at revenue. So revenue is equal to the amount we sold times the price. So he's here and we just need to times P. So this thing will become to minus 5000 p square plus 30,000 p and found to fund the maximum we get. We need to take the derivative. It's a D. P. over D R over D. P is equal to these, and then we set into the zero. So we get P equal to three. So in here, we don't need to take the second dearer with hell, because this'll oneness minus. So the graph should be like that is I think it's con cape them. So we don't if you take okay, the second derivative to make sure they're the minimum. So for probably we calculate the profit. So according to this one, so this the cost for each hamburger. So we have tea. He's here. Christ and the demand relationship. And to pull fail. Okay, I use p here. Sorry. Maybe I just use our again make you guys understand better. So the price minus the cost and times the d and the minus 1000 for for the constant course, so is equal to the revenue. And then we're during the calculation here. Then we also take a d r dp DT equal to these resetting to zero. We get these 3.3. Thank you.

Okay. So this is the form of any linear equation and in this case let X be the year and like why be the cost first finding em. So that's the slope. What I can do is I can see contract the you're Any two years divided by the corresponding costs. So let's say take 2008. And let's say I take 1990. So why do minus Y when divided by? Alright, this should be on the bottom because it's years. So 2008 -1990. So that's X. I had 2.7 Your .8 on top. And this gives me 0.1. Right? And so I have what he calls your 0.1 X plus B. Now I want to find what B is, all I can do is sub in any value. So let's say Why here represents the cost, let's say 1990. So the cost in 1990, X. is the year, which is 1990. And I'm gonna be, Sabi is basically gonna be Is your .8 -0.1 times 1990, which gives me -1 98.2. So basically my a linear function, there's gonna be 0.1 X -1 98.2. Yeah. Right. And then the second part Asks estimate the cost in 1987. So f 1987 gives me 198.7 -1 98.2, which gives me .7 -100, which is your .5. This is going to be in millions. So .5 million dollars. That's cost. So actual values .6. So that's a pretty good approximation. Did you estimate involved interpolation or extrapolation? This is extrapolation in this case. Finally, it says Jozef to predict a year when the cost would reach 3.2 million. So I'll have to say 3.2 equals your 0.1, x minus 1 98.2, And so x is 1 90.2 Plus 3.2, divided by 0.1. And this gives me 2014 is the year, so that's the answer.

Okay for this question, we want to determine which you're there. The cost increase the most. So will subtract, um, from our peoples here on a current year. So for your 1996 since we have no previous year are, uh, we'll put our different zero. Okay, now we have 5960 minus 567 year old. So we increased by 6. 90 here. And that's fine. This tear. This is going to be see six months, C five. Okay, I know it's copy and paste that for our remaining turns. Okay. Is this right? He ate on seven t lie and it and I see 10 99. So our largest increase was from 2001 to 2002 which with an increase of 500

All right, if you wash my previous video, I kept all the working from it to answer this question. And one thing that does most does is it gives your our values and your R squared values. But more importantly, that our value right there Is this a good predictor? We say any our value, where the absolute value of the our value is greater than 0.75 It's a good predictor. So this is negative, but you can see it 0.91 So, yes, this is a good sometimes we say strong negative correlation. But im I'll even right that this is a strong negative correlation in another way to say that yes, this is a good predictor, Dichter.


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