Below is a table of data that have been collected Price, p.(5) Weekly Demand, s,(1,000s)
150
211
170
207
190
195
210
187
230
179
250
174
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 r? was Select an answer v0.95
(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 $240 ?
(nearest 100)
D. According to the model at what should the price be set in order to have a weekly demand of 193,400
ipod Touches?
(nearest $1)