Situation: The Ipod Touch has been out for two years nowand a lot of data has been collected.Relevant Relationship:There is a functional relationship between Price of an IPodTouch,p and Weekly Demand,s.Below is a table of data that have been collectedPrice,p,($)Weekly Demand,s,(1,000s)150207170208190194210184230180250175A.. Find the linear model that best fits this data usingregression and enter the model below(for entry round the linear parameter value to nearest 0.01and constant parameter to nearest 1)S = T(p)B. The squared correlation coefficient r² wasSelect an answer 0.95(note: values less than 0.95 MAY mean the model is notappropriate for making predictions)Now answer these two questions using the UNROUNDEDmodel parametersC. What does the model predict will be the weekly demandif the price of an ipod touch is $168 ?(nearest 100)D. According to the model at what should the price be setin order to have a weekly demand of 177,200 ipod Touches?$(nearest $1)Note: In the "real" world Apple sold about 20 million IpodTouch's from Sept. 2007-Sept. 2009 Answer

Approach to solving the question:A. The linear model : s=−0.36𝑝 + 264 B. The squared…

Answered: Situation: The Ipod Touch has been out…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

The value of a sports franchise is directly related to the amount of revenue that a franchise can generate. Below is the data that represents the value (in $millions) and the annual revenue (in $millions) for 30 Major League Baseball franchises. Suppose you want to develop a simple linear regression model to predict franchise value based on annual revenue generated. Team Revenue Value Baltimore 179 460 Boston 310 1000 Chicago White Sox 214 600 Cleveland 178 410 Detroit 217 478 Kansas City 161 354 Los Angeles Angels 226 656 Minnesota 213 510 New York Yankees 439 1850 Oakland 160 321 Seattle 210 585 Tampa Bay 161 323 Texas 233 674 Toronto 188 413 Arizona 186 447 Atlanta 203 508 Chicago Cubs 266 879 Cincinnati 185 424 Colorado 193 464 Houston 196 549 Los Angeles 230 1400 Miami 148 450 Milwaukee 195…
Please help
The table describes weekly usage of an appliance is proportional to its Maintenance expense, is that correct? Use regression model to discuss your answer.
Data contains brain mass in different species versus glia-neuron ratio, the latter being a measurement of brain metabolism as the glia provides the metabolic needs of the neurons. The relationship between THE LOGARITHM of the brain mass (in the third column) and Glia-neuron ratio (fourth column) appears linear and it is these two variables that we wish to analyze via linear regression. We would like to know if the human brain fits the trend from the other species. Towards this end we will perform the regression on all species EXCEPT humans (Homo sapiens). Again, throw out the human data from your analysis. You will however need the human numbers for some of the questions. What is the coefficient of determination (R2) for the data? What is the standard error of the slope of the regression line (SEb) ?
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.Relevant Relationship:There is a functional relationship between Price of an IPod Touch,� and Weekly Demand,�.Below is a table of data that have been collected Price,�,($) Weekly Demand,�,(1,000s) 150 207 170 199 190 198 210 185 230 181 250 169 A.. Find the linear model that best fits this data using regression and enter the model below(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)�=�(�)= B. The squared correlation coefficient �2 was 0.95(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)Now answer these two questions using the UNROUNDED model parametersC. What does the model predict will be the weekly demand if the price of an ipod touch is $184 ? (nearest 100)D. According to the model at what should the price be set in order to have a weekly demand of 176,200 ipod Touches? $…
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected. Relevant Relationship: There is a functional relationship between Price of an IPod Touch,p and Weekly Demand,s. Below is a table of data that have been collected Price,p,($) Weekly Demand,s,(1,000s) 150 216 170 204 190 196 210 189 230 178 250 169 A.. Find the linear model that best fits this data using regression and enter the model below (for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1) s = T(p) B. The squared correlation coefficient rʻ was Select an answer V 0.95 (note: values less than 0.95 MAY mean the model is not appropriate for making predictions) Now answer these two questions using the UNROUNDED model parameters C. What does the model predict will be the weekly demand if the price of an ipod touch is $170 ? (nearest 100) D, According to the model at what should the price be set in order to have a weekly demand of 170,500 ipod Touches? $…
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.Relevant Relationship:There is a functional relationship between Price of an IPod Touch,p and Weekly Demand,s.Below is a table of data that have been collected Price,p ,($) Weekly Demand,s ,(1,000s) 150 209 170 205 190 200 210 192 230 177 250 175 A.. Find the linear model that best fits this data using regression and enter the model below(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)s=T(p)= C. What does the model predict will be the weekly demand if the price of an ipod touch is $172 ? (nearest 100) can you answer these two questions
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.Relevant Relationship:There is a functional relationship between Price of an IPod Touch,� and Weekly Demand,�.Below is a table of data that have been collected Price,�,($) Weekly Demand,�,(1,000s) 150 217 170 206 190 191 210 185 230 182 250 170 A.. Find the linear model that best fits this data using regression and enter the model below(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)�=�(�)= B. The squared correlation coefficient �2 was 0.95(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)Now answer these two questions using the UNROUNDED model parametersC. What does the model predict will be the weekly demand if the price of an ipod touch is $219 ? (nearest 100)D. According to the model at what should the price be set in order to have a weekly demand of 171,300 ipod Touches? $…
A grocery store manager did a study to look at the relationship between the amount of time (in minutes) customers spend in the store and the amount of money (in dollars) they spend. The results of the survey are shown below. Time 10 8 6 13 19 18 27 10 7 Money 58 25 41 51 84 81 87 45 15 1. The equation of the linear regression line is: ˆyy^ = ______ +_____ xx (Please show your answers to two decimal places)
9 students were surveyed to see what their age is and what their income level is. Find the equation of the line using linear regression. We want to predict their age using their income. age 18 24 38 22 19 35 28 19 27 income 456 786 835 855 645 244 587 1400 975 Just a side note, the 19 year old is making 1400, would be considered an outlier since they are making way more than everyone else. (y=-.0061x+34.9874 4 decimals) y=30.3709-.0064
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.Relevant Relationship:There is a functional relationship between Price of an IPod Touch,pp and Weekly Demand,ss.Below is a table of data that have been collected Price,pp,($) Weekly Demand,ss,(1,000s) 150 216 170 208 190 198 210 190 230 180 250 173 A.. Find the linear model that best fits this data using regression and enter the model below(for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1)s=T(p)=s=T(p)= B. The squared correlation coefficient r2r2 was 0.95(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)Now answer these two questions using the UNROUNDED model parametersC. What does the model predict will be the weekly demand if the price of an ipod touch is $196 ? (nearest 100) *** Use the actual equation from the regression calculator ***D. According to the model at what should the…
Which of the following statements best describes linear regression? A measure of the degree of dependence between two variables. A statistical technique using pairs of data and identifying a line which ‘best fits’ all of the pairs of observations. A measure of the proportion of changes in the dependent variable which can be explained by a change in the independent variable. Shows individual costs against their associated activity levels but makes no attempt to identify a linear relationship between them.

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS