There is a functional relationship between Price of an IPod Touch, p and Weekly Demand, a. Below is a table of data that have been collected Price,p,($) Weekly Demand, s,(1,000s) 150 216 170 208 190 191 210 188 230 182 250 168 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) T(p) B. The squared correlation coefficient r was Select an answer v0.95 (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 $189? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 183,900 ipod Touches? S (nearest $1)
There is a functional relationship between Price of an IPod Touch, p and Weekly Demand, a. Below is a table of data that have been collected Price,p,($) Weekly Demand, s,(1,000s) 150 216 170 208 190 191 210 188 230 182 250 168 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) T(p) B. The squared correlation coefficient r was Select an answer v0.95 (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 $189? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 183,900 ipod Touches? S (nearest $1)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 4SGR
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Transcribed Image Text:There is a functional relationship between Price of an IPod Touch,p and Weekly Demand,s.
Below is a table of data that have been collected
Price,p,($) Weekly Demand,s,(1,000s)
150
216
170
208
190
191
210
188
230
182
250
168
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)
s = T(p)
B. The squared correlation coefficient rf was Select an answer v 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 $189?
(nearest 100)
D. According to the model at what should the price be set in order to have a weekly demand of 183,900
(nearest $1)
ipod Touches? S
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