Quadratic model

[kjones]

If I am trying to fit a quadratic model to two sets of data, one for the seller - price and item demanded and also the price and item supplied (in thousands) to show supply and demand as functions of price for both sets of data, how do I begin? Not sure how to place two sets of data in caluculator and also to graph this.

Help me get started, please.
K

 

[Denis]

If I am trying to fit a quadratic model to two sets of data, one for the seller - price and item demanded and also the price and item supplied (in thousands) to show supply and demand as functions of price for both sets of data, how do I begin? Not sure how to place two sets of data in caluculator and also to graph this.

Kaye, please type the ORIGINAL problem in full; what you're giving us is quite
confusing; like, do you mean:
If I am trying to fit a quadratic model to two sets of data:
one for the seller - price and item demanded
one for the supplier - price and item supplied (in thousands)

 

[kjones]

More info Mr. Werewolf

A bookstore owner constructs the following table based on sales data for a particular hardback science ficgtion novel:

price (dollars per book) : $20 $23 $25 $28 $30 $32
books demanded (thousands): 214 186 170 150 138 128

The supplier's data:

price (dollars per book): $20 $23 $25 $28 $30 $32
books supplied (thousands): 120 130 140 160 190 210

a. Fit a quadratic model to each set of data to find both supply and demand as functions of price.

b. Find the equilibrium quantity qnd equilibrium pride.

c. I need to graph each set of data and equation on the same diagram.

Thanks.
K

 

[stapel]

Not sure how to place two sets of data in caluculator and also to graph this.

The specific steps necessary for finding a regression from a data set will depend upon the software being used. Please consult with your owners manual for an explanation of the steps you should use.

Eliz.