Homework: HW3 (Chapter 4) Save Score: 0 of 2 pts 17 of 19 (18 complete) HW Score
ID: 2334271 • Letter: H
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Homework: HW3 (Chapter 4) Save Score: 0 of 2 pts 17 of 19 (18 complete) HW Score: 82.49%, 48.67 of 59 pts Problem 4.45 Question Help Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values Price $2.70 $3.60 $2.00 $4.10 $3.10 $4.05 Number Sold 765 515 990 245 320 490 Using simple linear regression and given that the price per cup is $1.80, the forecasted demand for mocha latte coffees will be cups (enter your response rounded to one decimal place)Explanation / Answer
b = -0.00244
a = 4.611
4.61 or 461 would be forecast to sale if price were $1.80
Price Y Number sold X x^2 xy 2.70 765 585225 2065.50 3.60 515 265225 1854 2.00 990 980100 1980 4.10 245 60025 1004.5 3.10 320 102400 992 4.05 490 240100 1984.5 19.55 3325 2233075 9880.5Related Questions
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