A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the comp

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter3: Polynomial Functions
Section3.5: Mathematical Modeling And Variation
Problem 1ECP: The ordered pairs below give the median sales prices y (in thousands of dollars) of new homes sold...
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A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:

City Price ($) Sales
River City 1.30 100
Hudson 1.60 90
Ellsworth 1.80 60
Prescott 2.00 40
Rock Elm 2.40 38
Stillwater 2.90 32


What is the estimated mean change in the sales of the candy bar if price goes up by $1.00?

 

Question 3 options:

 

A) 

-48.193
 

B) 

0.784
 

C) 

-44.58

 

D) 

161.386
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