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Thread: Linear Regression Problem Solving Help

  1. #1
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    Linear Regression Problem Solving Help

    Problem.

    The linear regression model of the cost C (in thousands of dollars) for the production of x toasters was found to be C(x) = 4x + 50

    Question:

    How many toasters must be sold for the cost to be less than $140000.00?

    I understand we could solve for x if the cost is 140000. Subtract 1 from x and surely the cost would be less then 140000 but that doesnt make sense for linear regression . Could someone please help me understand how i would go abouts doing this?

    Thanks alot.
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  2. #2
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    Quote Originally Posted by irenavassilia View Post
    Problem.

    The linear regression model of the cost C (in thousands of dollars) for the production of x toasters was found to be C(x) = 4x + 50

    Question:

    How many toasters must be sold for the cost to be less than $140000.00?

    I understand we could solve for x if the cost is 140000. Subtract 1 from x and surely the cost would be less then 140000 but that doesnt make sense for linear regression . Could someone please help me understand how i would go abouts doing this?

    Thanks alot.
    Hi irena,

    According to the information you have given, you have a cost functions $\displaystyle c(x)=4x+50$. If x represents the number of toasters, then $\displaystyle c(x)<140000$ will answer your question.

    $\displaystyle 4x+50<140000$

    $\displaystyle 4x<139950$

    $\displaystyle x<34987.5$

    Since you can't produce half a toaster, the answer would be $\displaystyle x<34987$
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