A restaurant has the following table of values for some of its burrito sales during January...

A restaurant has the following table of values for some of its burrito sales during January from the previous 10 years

Years	2007	2009	2010	2011	2013	2015
Price	10.50	9	10.75	11	13	12.25
Sales	110	165	105	98	75	80

a. Find a cubic model for the price demand functions. What is the correlation coefficient?

b. Using your cubic model, find a model for the revenue

c. What price will the revenue be maximized

d. Does your answer from part c guarantee that the profit will be maximized? why or why not?

Expert Solution

Colby Messinger answered 1 year ago

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