A study is to be made regarding the demand for sneakers and the relationship with their price. The data are as follows: Sneakers Demand Price (USD) 4 2 6 2 6 4 7 4 8 5 7 5 8 6

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 4GP
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A study is to be made regarding the demand for sneakers and the relationship with their price. The data are as follows:

Sneakers

Demand

Price (USD)

4

2

6

2

6

4

7

4

8

5

7

5

8

6

It is requested:

  1. Calculate the parameters β1 and β2. Interpret each one
  2. Determine the regression line.
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