Supply & Demand: fit a quadratic model to each set of da

[kjones]

I have two tables - one basedon sales data (dollar price per book and books demanded in thousand) and the other table showing the price collected (price in dollars per book and books supplied in thousands).

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

Then I need to graph each set of date and equation on the same diagram.

FInally I need to find the equilibrium quantity and equilibrium price.

Am I on the right track?

First I'll enter the data in the tables on the calculator. Using the demand function p = d(x). can you help me sort out what I need to do first?

Thanks.

Kaye

 

[stapel]

Are you asking how to find a quadratic regression on your TI-83...?

Thank you.

Eliz.

 

[kjones]

Is that what I need to do for this? I know how to do that.
K

 

[stapel]

As far as I know, "fit a quadratic model" means "find the quadratic regression line".

Eliz.

 

[tkhunny]

"quadratic"
"line"

????