Looking for help with creating a formula using second order polynomials

[stevewolfe555]

Hi I am currently trying to learn to understand what formula I need to use to work out a value on a second order polynomial curve.

I maybe using the wrong terminology here but please bare with me.


I am trying to work out how much to mark up an individual product by when changing the quantities.

As an example here is some input data


Qty Markup
100 85
500 70
1000 65
5000 50

I have been shown how to plot these values in a chart in excel and then apply a second polynomial trend line to that chart which gives me a formula. e.g.

y = 4E-06x2 - 0.0267x + 85.837​

I know wish to know how to use this formula to workout the markup value by using different input quantities.


Any help on this would be of great help.

Thank you.

 

[Deleted member 4993]

Hi I am currently trying to learn to understand what formula I need to use to work out a value on a second order polynomial curve.

I maybe using the wrong terminology here but please bare with me.


I am trying to work out how much to mark up an individual product by when changing the quantities.

As an example here is some input data


Qty Markup
100 85
500 70
1000 65
5000 50

I have been shown how to plot these values in a chart in excel and then apply a second polynomial trend line to that chart which gives me a formula. e.g.

y = 4E-06x2 - 0.0267x + 85.837​

I know wish to know how to use this formula to workout the markup value by using different input quantities.


Any help on this would be of great help.

Thank you.

Have you completed a course in Algebra (High school or College) where the "polynomials" were discussed?

 

[stevewolfe555]

Have you completed a course in Algebra (High school or College) where the "polynomials" were discussed?

Unfortunately not. But once I know how to use the formula I can replicate it.

 

[HallsofIvy]

Hi I am currently trying to learn to understand what formula I need to use to work out a value on a second order polynomial curve.

I maybe using the wrong terminology here but please bare with me.


I am trying to work out how much to mark up an individual product by when changing the quantities.

As an example here is some input data


Qty Markup
100 85
500 70
1000 65
5000 50

I have been shown how to plot these values in a chart in excel and then apply a second polynomial trend line to that chart which gives me a formula. e.g.

y = 4E-06x2 - 0.0267x + 85.837​

This makes no sense unless you tell us what x and y mean! Do you mean that x is the "Quantity" and y is the "Markup". I so then you do the arithmetic indicated by the formula. It the "Quantity" is x= 100 then the "Markup" is $\displaystyle y= .000004 x^2- 0.0267x+ 85.837= .000004 (100^2)- 0.0267(100)+ 85.837= 0.04- 2.67+ 85.837$ which has apparently been truncated to 85.

I know wish to know how to use this formula to workout the markup value by using different input quantities.

It is not at all clear what you difficulty is. Do you know what $\displaystyle 4E-06$ means? Do you know how to square a number?

 

[stevewolfe555]

This makes no sense unless you tell us what x and y mean! Do you mean that x is the "Quantity" and y is the "Markup". I so then you do the arithmetic indicated by the formula. It the "Quantity" is x= 100 then the "Markup" is \(\displaystyle
y= .000004 x^2- 0.0267x+ 85.837 = .000004 (100^2)- 0.0267(100)+ 85.837= 0.04- 2.67+ 85.837
\) which has apparently been truncated to 85.


It is not at all clear what you difficulty is. Do you know what $\displaystyle 4E-06$\(\displaystyle means? Do you know how to square a number?\)

\(\displaystyle

x is Quantity and y is markup.


I know how to square a number.

So what your saying is if x = 100 I do the following. I want to break this down so I understand the equation.

y = 4E-06x2 - 0.0267x + 85.837


y = .000004 x 10000 - (0.0267x 100) + 85.837

or

y = 0.000004*(100*100)-(0.0267*100)+85.837

Thanks for your patients.\)