12. Demand for Candy Bars In this problem you will determine a linear demand equation thatdescribes the demand for candy bars in your class. Survey your classmates to determine whatprice they would be willing to pay for a candy bar. Your survey form might look like the sampleto below.Would you buy a candy bar from the vending machine in the hallway if the price is as indicated?PriceYes or No50c75c$1.00$1.25$1.50$1.75$2.00(a) Make a table of the number of respondents who answered "yes" at each price level.(b) Make a scatter plot of your data.(c) Find and graph the regression line y = mp+b, which gives the number of respondents ywho would buy a candy bar if the price were p cents. This is the demand equation. Why isthe slope m negative?(d) What is the p-intercept of the demand equation? What does this intercept tell you aboutpricing candy bars?

Answered: rice Yes or No 50c 75c 1.00 1.25 1.60…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Statistics - Regression Analysis
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