Q1. A college bookstore store sells hoodies. They want to price their hoodies to sell as many as possible during homecoming week. The table below gives the price (in $) of their hoodies and the weekly quantity they would sell at this price. Find the linear regression equation that gives the quantity of hoodies sold as a function of the price. Price 18 22 25 29 35 50 Quantity 175 153 140 131 115 95 Use your calculator to find the linear regression equation for this set of data. (a) The slope coefficient (rounded to 2 decimal places) is ???? (b) The y-intercept is ???? (c) Use the regression equation with coefficients as indicated above to determine the number of hoodies the bookstore can sell if the price is $39. (round your answer to the nearest whole number)
Q1.
A college bookstore store sells hoodies. They want to price their hoodies to sell as many as possible during homecoming week. The table below gives the price (in $) of their hoodies and the weekly quantity they would sell at this price. Find the linear regression equation that gives the quantity of hoodies sold as a function of the price.
|
Price |
18 |
22 |
25 |
29 |
35 |
50 |
|
Quantity |
175 |
153 |
140 |
131 |
115 |
95 |
Use your calculator to find the linear regression equation for this set of data.
(a) The slope coefficient (rounded to 2 decimal places) is ????
(b) The y-intercept is ????
(c) Use the regression equation with coefficients as indicated above to determine the number of hoodies the bookstore can sell if the price is $39. (round your answer to the nearest whole number)
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