Suppose data is found showing the demand for a product and its price (in dollars) in different market aroas where the demand values ranged from 18 to 90. Furthermore, the goal is to use the data to construct a model that will be used to predict the price for the product in terms of its demand. Further, suppose the regression line is found to be y = 23.51535 -0.09035z The price for the product when the demand is 160 is: The average price is 23.51535 - 0.09035(160) = $9.06 anytime the demand is 160 The average price is 23.51535 -0.09035(160) = $0.06 for this specific timo that the demand is 160 The price is 23 51535-0.09035(160) $9 06 anytime the demand is 60 The price is 23.51535 - 0.09035(160) = $0.06 for this specific time that the demand is 60 The answer cannot be found due to extrapolation

Suppose data is found showing the demand for a product and its price (in dollars) in different market aroas where the demand values ranged from 18 to 90. Furthermore, the goal is to use the data to construct a model that will be used to predict the price for the product in terms of its demand. Further, suppose the regression line is found to be y = 23.51535 -0.09035z The price for the product when the demand is 160 is: The average price is 23.51535 - 0.09035(160) = $9.06 anytime the demand is 160 The average price is 23.51535 -0.09035(160) = $0.06 for this specific timo that the demand is 160 The price is 23 51535-0.09035(160) $9 06 anytime the demand is 60 The price is 23.51535 - 0.09035(160) = $0.06 for this specific time that the demand is 60 The answer cannot be found due to extrapolation

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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