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Business
Operations Management
PRICE NUMBER SOLD $2.70 760 $3.50 510 $2.00 980 $4.20 250 $3.10 320 $4.05 480

PRICE NUMBER SOLD $2.70 760 $3.50 510 $2.00 980 $4.20 250 $3.10 320 $4.05 480

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
Cafe Michigan 's manager, Gary Stark, suspects
that demand for mocha latte coffees depends on the price being
charged. Based on historical observations, Gary has gathered the
following data, which show the numbers of these coffees sold over
six different price values:Using these data, how many mocha latte coffees would be forecast
to be sold according to simple linear regression if the price
per cup were $2.80?
PRICE NUMBER SOLD $2.70 760 $3.50 510 $2.00 980 $4.20 250 $3.10 320 $4.05 480
Transcribed Image Text:PRICE NUMBER SOLD $2.70 760 $3.50 510 $2.00 980 $4.20 250 $3.10 320 $4.05 480
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