Relevant Relationship:There is a functional relationship between Price of an IPod Touch,p and Weekly Demand, s.Below is a table of data that have been collectedPrice,p,($) Weekly Demand, s,(1,000s)150210170203190199210183230185250176A.. Find the linear model that best fit this data using regression and enter the model below(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)8 = T (p)B. The squared correlation coefficient wasSelect an answer 0.95(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)Now answer these two questions using the UNROUNDED model parametersC. What does the model predict will be the weekly demand if the price of an ipod touch is $205?(nearest 100)D. According to the model at what should the price be set in order to have a weekly demand of 200,900 ipocTouches? $(nearest $1)

Given Data: Price Weekly Demand 150 210 170 203 190 199 210 183 230 185 250 176…

Answered: Below is a table of data that have been…

Below is a table of data that have been collected Price,p,($) Weekly Demand,s,(1,000s) 150 210 170 203 190 199 210 183 230 185 250 176 A.. Find the linear model that best fit this data using

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section: Chapter Questions

Problem 6P

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Question

Relevant Relationship:
There is a functional relationship between Price of an IPod Touch,p and Weekly Demand, s.
Below is a table of data that have been collected
Price,p,($) Weekly Demand, s,(1,000s)
150
210
170
203
190
199
210
183
230
185
250
176
A.. Find the linear model that best fit this data using regression and enter the model below
(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)
8 = T (p)
B. The squared correlation coefficient was
Select an answer 0.95
(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)
Now answer these two questions using the UNROUNDED model parameters
C. What does the model predict will be the weekly demand if the price of an ipod touch is $205?
(nearest 100)
D. According to the model at what should the price be set in order to have a weekly demand of 200,900 ipoc
Touches? $
(nearest $1)

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