I will be graphing the equation and answering questions.

M

mpapale

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Scenario: Regression equations are created by modeling data, such as the following:

Sales = (Cost Per Item × Number of Items) – Constant Charges

In this equation, constant charges may be rent, salaries, or other fixed costs. This includes anything that you have to pay for periodically as a business owner. This value is negative because this cost must be paid each period and must be paid whether you make a sale or not.

Your company may wish to release a new e-reader device. Based on data collected from various sources, your company has come up with the following regression equation for the sales of the new e-reader:

Sales = $0.15 × number of e-readers sold – $28

Or, assuming x = the number of e-readers sold, this would be the same regression equation:

Sales = 0.15x – 28

In this case, the values are given in thousands (i.e., the cost of making an individual e-reader will be $150 [0.15 × 1,000], with $28,000 [28 * 1,000] in constant charges).
Answer the following questions based on the given regression equation:

1.Using the graphing program that you downloaded from www.padowan.dk/graph, graph the sales equation. Discuss the meaning of the x- and y-axis values on the graph. (Hint: Label the axis with the Text tool in the graphing program.)
2.Based on the results of the graph and the sales equation provided, discuss the relationship between sales and number of e-readers produced. (Hint: Consider the slope and y-intercept.)
3.If the company does not sell a single e-reader, how much is lost in sales? Mathematically, what is this value called in the equation?
4.If the company sells 5,000 e-readers, how much will the company make (or lose) in sales?
5.If sales must equal 100 thousand, how many e-readers will your company need to sell? (Round up to the nearest e-reader.)
6.If your company is hoping to break even, how many e-readers will need to be sold to accomplish this? (Round up to the nearest e-reader.)


If i could only figure out the equation.
 
Here's an example of showing nothing. You MUST do better than this. How do we know you are even attending class or reading your book?

These are lovely discussion questions. Discuss!
 
I attend every class and just am not getting it. Today i was the only one in class.
What I have so far is:
Sales=0.15x-28 which is the form y=.15x-28

is this right?

1. x= sales and e-readers sold
y= the different variables
2.Sales are on the increase, slowly but surely and showing a profit.
3.$28,000 and called overhead
4. profit of $5,520
5. Lost on
6. Lost on
 
mpapale said:
I attend every class and just am not getting it. Today i was the only one in class.
Click to expand...
Lovely. Now answer my questions. Besides your testimony, how can we know that? Wait, ... You can show your work!! Very good.

Did you download padowan or use other graphing software?

1. x= sales and e-readers sold
y= the different variables
Click to expand...

This makes no sense. You need to see and discuss the relationship between the independent variable (units sold) and the dependent variable (sales profit). If you sell one more, what will happen to profits?

2.Sales are on the increase, slowly but surely and showing a profit.
Click to expand...

There is an increasing slope, but this says nothing of the actual sales level. There is no time scale, so there is nothing to say about how things are going from one day to the next. It says only that if you sell more, you make more money.

3.$28,000 and called overhead
Click to expand...

Got it!

4. profit of $5,520
Click to expand...

0.15 * 5 - 28 = 0.75 - 28 = -27.25
How did you get 5520?

5. Lost on
Click to expand...
100 = 0.15 * x - 28 -- Solve for x.

6. Lost on
Click to expand...
0 = 0.15 * x - 28 -- Solve for x.


Note: The word "cost" is very confusing. It is the cost to the purchaser, not the cost to produce. Careful with that.
 
Yes, I downloaded the padowan program.

1. x=sales and e-readers sold
y=constant charges: such as rent, salaries, or other fixed costs

4. 5000=.15x-28
+28 +28
5028=.15x
--- ---
.15 .15
33,520 = x


33,520-28,000=5,520 profit

And what is 0.15* 5-28=0.75-28=-27.25 and if that is the answer where did it come from?

5. x=853
6. x=2 This cant be is. I think the right answer is x=1,867
 
mpapale said:
1. x=sales and e-readers sold
y=constant charges: such as rent, salaries, or other fixed costs
Click to expand...
You keep repeating the definitions, and this time, not very well. 'y' is not the fixed costs. You have yet to discuss the relationship between x and y.

4. 5000=.15x-28
+28 +28
5028=.15x
--- ---
.15 .15
33,520 = x

33,520-28,000=5,520 profit

And what is 0.15* 5-28=0.75-28=-27.25 and if that is the answer where did it come from?
Click to expand...
The DEFINITION of 'x' is the number of units in thousands. If you sell 5000, that means x = 5. You started with y = 5000. This is no good.

6. x=2 This cant be is. I think the right answer is x=1,867
Click to expand...
You are struggling way too much with the most basic algebra. Can you find the time to do some refreshing? The formula given above results in x = 186.66666... Whence came x = 2?
 
I am sorry that I am not proficient in my math skills but believe me I was worse 3 weeks ago. I appreciate the help though. And I am going to a tutoring session tomorrow. I have also been attending learning labs at my college, I am usually a B student that tries for the A, but this time I will do what is necessary to get the grade. I have been in school since 2007, so that doesn't make matters better.
Okay,
1. x= is the axis that refers to the horizontal plane
y= is that axis that refers to the vertical plane
I am sorry if I have annoyed you.
y also =how many reader made?
 
There is no annoyance. Do not assume it. It's just honest. If you have managed to learn that honesty means that one is annoyed, please forget that. Let's learn some mathematics.

Talk about the relationship between x and y.

Our model assumes a linear relationship. For every reader we sell, our profits increase some amount. No matter how many we sell, one more is the same additional amount. One may wish to note that this is contrary to the common economic principle of "Diminishing Marginal Utility". I guess this linear relationship isn't a very good model if we intend to model a decreasing (on increasing) effect. I'll keep that in mind for future modelling projects.

It's a discussion, not a definition. It's what you know and feel about it, not the physical construction of the graph. Modelling is not the place to get caught in rote thinking - here's a problem, let's push these three buttons to solve the problem. It just doesn't work that way. You must think about what you are doing and make sense of it. You cannot pursue any kind of rational science without some sort of clue what modelling is all about. The notation and mathematics are here to help. If they get in the way, they are not helping. If you learn it well, and let it help you, ah, that is what moves discovery along!
 
Well dont be discouraged because this evening was a night to remember in math-land, and everything just flowed right outta me like it should have to begin with. The previous post are me not getting the concept at all. But with your help and about 50 other sources, we all figured together a symphony of numbers and data. Keep the faith I am not a lost cause yet. tkhunny, thank you for ALL your help and guidance. I have recommended this site to a few others that are having troubles, also.
 
I'm never discouraged. It still would delight my soul to hear your discussion on the relationship between the two variables.
 
Oh my goodness! I am in this class too and wow let me tell you, I dont know why but this junk has me so confused. I guess its the way she posts things and asks. Im lost!
 
It is common to wander unprepared into a math class, assume it will be like all your previous math classes, and wonder why they are asking you to think. Your previous experience with mathematics may have been memorization and process practice. When asked, "What do you think?" or when presented with "Discuss the relationship." this can be a new and shocking experience. I blame your earlier teachers. Brains are not just for cramming stuff in. You must figure out how to use what you cram in, organize it, wonder on how it all fits together or does not, and maybe create an original thought or idea. Like I said, this may be outside your earlier experience with mathematics. It's time to move on from that earlier stuff. You do have to memorize stuff, but not just so you will know, rather, so you will not waste time on it and you can move on to greater things.
 
Help

tkhunny: I could desperately use your help with the same question. I tried to send you a private message but your inbox is full.

Here is what I was going to send.

Hi there, I found your responses to a question posted in 2005. I didn't understand the answers that you were given however I am sure that the person asking was attending the same/class school that I am now; the question is identical. My class is meant for people who took high school algebra and unfortunately I never did. I'm attending all classes and tutoring, plus reading the book and I am stuck beyond belief on how to do any of this problem. It might as well be in Chinese. The graphing calculators are not working right for me at least I don't think they are, so this is the first confusion.
I would appreciate any help you can give me and "dumber" you can get it down for me the better.
Thank you in advance.

Profit = 0.15x – 28​


In this case, the values are given in thousands (i.e., the cost of making an individual e-reader will be $150 [0.15 × 1,000], with $28,000 [28 * 1,000] in constant charges).


Answer the following questions based on the given regression equation:​
  1. Using the graphing program that you downloaded, graph the profit equation. Discuss the meaning of the x- and y-axis values on the graph. (Hint: Be sure to label the axis)​
  2. Based on the results of the graph and the profit equation provided, discuss the relationship between profits and number of e-readers produced. (Hint: Consider the slope and y-intercept.)​
  3. If the company does not sell a single e-reader, how much is lost ? Mathematically, what is this value called in the equation?
  4. If the company sells 5,000 e-readers, how much will the company make (or lose)?
  5. If profit must equal 100 thousand, how many e-readers will your company need to sell? (Round up to the nearest e-reader.)
  6. If your company is hoping to break even, how many e-readers will need to be sold to accomplish this? (Round up to the nearest e-reader.)Please submit your assignment.
 
Ya

mmm4444bot said:
You are in the wrong class.
Click to expand...

yah I definitely am, but it is required for my degree and I am not about to tell them that I didn't take HS Algebra and have to take a basic algebra class on top of this one. Not going to happen; I pay for 100% of my schooling and I am not paying another chunk on that. So I am just struggling through it and managing an A because of blogs like this and friends who are good in the area and attempting to explain things a little better. Math has never ever clicked for me.
 
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