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 ??? cups (enter your response rounded to one decimal place).
Given that, price per cup (x) = $ 2.80
Forecasted demand (y) = 1454.61 - 277.63*2.8 = 677.2
Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price...
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: 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...
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: PriceNumber Sold$2.70770$3.40510$2.10980$4.20240$3.10315$4.00490Using 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).