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) 150 209 170 199 190 196 210 186 230 176 250 176 A.. Find the linear model that best fits 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 $192 ? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 199,000 ipod Touches? $ (nearest $1) Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Pathways fo

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) 150 209 170 199 190 196 210 186 230 176 250 176 A.. Find the linear model that best fits 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 $192 ? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 199,000 ipod Touches? $ (nearest $1) Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Pathways fo

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section1.FOM: Focus On Modeling: Fitting Lines To Data

Problem 6P

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