stores and wants to examine the relationship between the prices and sales. The price of a particular novel was adjusted each week and the weekly sales are in the following table. Management would like to use a simple linear regression model that uses prices to predict sales.
stores and wants to examine the relationship between the prices and sales. The price of a particular novel was adjusted each week and the weekly sales are in the following table. Management would like to use a simple linear regression model that uses prices to predict sales.
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 14PPS
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Costco sells paperback books in their retail stores and wants to examine the relationship between the prices and sales. The price of a particular novel was adjusted each week and the weekly sales are in the following table. Management would like to use a simple linear regression model that uses prices to predict sales.
| Sales | Price | ||
| 8 | $ | 12 | |
| 2 | $ | 15 | |
| 7 | $ | 15 | |
| 4 | $ | 12 | |
| 4 | $ | 6 | |
| 4 | $ | 4 | |
| 4 | $ | 5 | |
The predicted weekly sales for the novel when priced at $10 is equal to ________.
Multiple Choice
-
2.88
-
3.35
-
4.73
Correct -
5.61
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