SOLUTION: A mathmatician named antonia does some market research to find the effect that hourly wages has on the amount a repair person makes If fhey charge to little lots of people would

Question 1084212: A mathmatician named antonia does some market research to find the effect that hourly wages has on the amount a repair person makes
If fhey charge to little lots of people would hire that person but rhe persob would not earn very much money
If the person charges too much again they wont make money because no one will hire them
Antonia believes that there must be an hourly wage that he could charge to make maximub earnings
Table of averages
Hour rate$
10
25
45
65
90
Weakly earning $
700
1450
1890
1690
540
1. Using graphic calculator make scatter plot
2. Do u agree with antonia that there probably is an hourly wage that will maximize earning
3. Determine equation
For the parabola
Determine coordinates
4. What hourly rate is best

Omg pkz help me ive been stuck on stupid with this question
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
you probably want to use a curve fit program.

the relationship is not straight line, but more like a parabola.

using an online curve fit program that i found at https://mycurvefit.com/, i got the following quadratic equation.

y = -.8x^2 + 78x - 4.547474 * 10^-13

i put that equation in the desmos.com calculator and it told me the maximum value for y is at y = 1901.25 when x is at 48.75.

y represents the weekly earnings and x represents the hourly wage.

this means that the amount a repair person makes per week is maximized when the hourly wages he charges is 48.75 dollars per hour.

the desmos.com calculator can be found at https://www.desmos.com/calculator

here's what i input into the curve fit program.

$$$

here's what the curve fit program showed me was the result after i requested a polynomial quadratic equation fit.

$$$

here's what the desmos calculator showed me.

$$$

the R^2 tells you how good the fit is.

since the R^2 is equal to 1, that's the best fit you can get.

you could also use excel to do something similar.

they have a correlation option which graphs the data and also tells you which type of equation fits the data the best.

in general, the type of equation that gives you the highest R^2 value is the one that gives you the best fit.

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