In a market research study for Optimal Communications, the following data were provided basedon the projected monthly sales (x), (in thousands) of the latest album release by the popularmusical band with a proposed wholesale unit price of y dollars.Xy2.238.005.436.00Σx=40.7; Σy=167; Σx = 428.41;ΣSS= 64.7;SS=-78.787.034.50Ey =5642.5;11.530.0014.628.50Σxy = 1280.6 (a) Computex and y(b) Compute the value of SSXX(c) Find the equation of the least squares regression line.(d) State the coordinates of the y-intercept and the value of the gradient or slope.(e) Calculate the correlation coefficient and interpret the result.(f) Use the equation in c) to determine the wholesale unit price you would expect for a demand of3250 albums.

Given, Sample Monthly Sales (x) Wholesale Price (y) 1 2.2 38.00 2 5.4 36.00 3 7.0 34.50…

Answered: In a market research study for Optimal…

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...

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In a market research study for Optimal Communications, the following data were prov on the projected monthly sales (x), (in thousands) of the latest album release by the musical band with a proposed wholesale unit price of y dollars.