Question: 2 the following table shows the market share of electricity...
2. The following table shows the market share of Electricity Inc as a percentage of the total energy production in a city by year.
Year Market Share
2005 17.4 %
2010 16.3 %
Use quadratic regression to find a mathematical model that describes the relationship between year and market share. Use EXCEL to draw a graph of this relationship with the trend curve.
3. Use the revenue and cost functions:
R(x) = x(2,000 – 60x)
C(x) = 4000 + 500 x
- Find the break even points.
- For what values of x will a loss occur? A profit?