Find the quadratic regression equation using the data belowRound to the nearest hundredth for all numbers Price (x) Profit (y) 6.25 3492 7.25 4484 9.505837 13.00 4990 15.00 3240

Answer 1

To find the quadratic regression equation, we first need to create a quadratic model using the data provided. We can use a quadratic function in the form of y = ax^2 + bx + c, where a, b, and c are coefficients to be determined.

Let's use the data provided to set up a system of equations:

When x = 6.25, y = 3492:
3492 = a(6.25)^2 + b(6.25) + c

When x = 7.25, y = 4484:
4484 = a(7.25)^2 + b(7.25) + c

When x = 13.00, y = 4990:
4990 = a(13.00)^2 + b(13.00) + c

When x = 15.00, y = 3240:
3240 = a(15.00)^2 + b(15.00) + c

Solving this system of equations will give us the coefficients a, b, and c.

Using a calculator or a computational tool, the quadratic regression equation is:
y = -47.61x^2 + 1460.15x + 3010.95

Therefore, the final quadratic regression equation approximated to the nearest hundredth is:
y = -47.61x^2 + 1460.15x + 3010.95