Not sure how to solve for either excel or megastat. Could use help using either to solve 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 ________.
Not sure how to solve for either excel or megastat. Could use help using either to solve 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 ________.
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 6PPS
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Not sure how to solve for either excel or megastat. Could use help using either to solve
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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