Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values:
Price | Number Sold |
---|---|
$2.70 | 770 |
$3.40 | 510 |
$2.10 | 980 |
$4.20 | 240 |
$3.10 | 315 |
$4.00 | 490 |
Using simple linear regression and given that the price per cup is $1.85, the forecasted demand for mocha latte coffees will be _______ cups (enter your response rounded to one decimal place).
the trendline equation is y = -295.3x + 1510.5
Explanation:
Answer: For forecast of price $1.85, keep x= 1.85
F-1.85 = y = -295.3*1.85 + 1510.5= 964.2
Homework: Chapter 4 Homework Save < 13 of 15 (11 complete) HW Score: 73.33%, 11 of...
Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price Number Sold $2.70 760 $3.50 510 $2.00 980 $4.20 250 $3.10 320 $4.05 480 Using simple linear regression and given that the price per cup is $ 2.80, the forecasted demand for mocha latte coffees will be ???...
Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price $2.70 $3.40 $2.00 $4.20 $3.20 $4.00 Number Sold 760 505 975 245 325 480 Using simple linear regression and given that the price per cup is $1.85, the forecasted demand for mocha latte coffees will be cups (enter...
Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price Number Sold1 $2.70 7602 $3.40 5153 $2.00 9754 $4.10 2405 $3.20 3256 $4.05 475Using simple linear regression and given that the price per cup is $1.75, the forecasted demand for mocha latte coffees will be___ cups nothingcups
Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Observation Price Number Sold 1 $2.60 770 2 $3.50 505 3 $2.00 975 4 $4.30 250 5 $3.20 320 6 $4.00 480 Using simple linear regression LOADING... and given that the price per cup is $1.75 the forecasted demand...
Homework: Chapter 21 Homework Save 11 of 12 (10 complete) HW Score: 52.67%, 15.8 of 30 pts Score: 0 of 4 pts P21-35 (similar to) Question Help Max Chips is a manufacturer of prototype chips based in Buffalo, New York, (Click the icon to view the prototype chips information.) (Click the icon to view information on the options.) Present Value of $1 table Present Value of Annuity of $1 table Future Value of $1 table Future Value of Annuity of...