Use a Graphing Calculator to Plot the Data and Find

question 197

Multiple Choice

Use a graphing calculator to plot the data and find the quadratic function of best fit.
-A small manufacturing firm collected the following data on advertising expenditures (in thousands of dollars) and total revenue (in thousands of dollars) . $$\begin{array} { c | c } \text { Advertising, } \mathrm { x } & \text { Total Revenue, } \mathrm { R } \\\hline 25 & 6430 \\28 & 6432 \\31 & 6434 \\32 & 6434 \\34 & 6434 \\39 & 6431 \\40 & 6432 \\45 & 6420\end{array}$$ Find the quadratic function of best fit.

• A) R(x) = -0.31x² + 2.63x + 6128
• B) R(x) = -0.024x² + 7.13x + 6209
• C) R(x) = -0.091x² + 5.95x + 6337
• D) R(x) = -0.015x² + 4.53x + 6123

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Definitions:

Materials

Refers to the raw inputs or supplies used in the manufacturing or production of goods.

Generally Accepted Accounting Principles

A set of rules and standards used by accountants to prepare, present, and report financial statements for companies and organizations.

Factory Overhead Rate

The method of allocating indirect costs to produced goods, usually calculated by dividing total factory overhead costs by a base such as direct labor hours or machine hours.

Product Costing

The method used to determine the expenses associated with producing a product, considering factors like raw materials, labor, and overhead costs.