Question
In: Math
Situation: The Ipod Touch has been out for two years now and a lot of data...
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 | 210 |
| 170 | 209 |
| 190 | 199 |
| 210 | 186 |
| 230 | 184 |
| 250 | 176 |
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)=
Now answer these two questions using the UNROUNDED model
parameters
B. What does the model predict will be the weekly
demand if the price of an ipod touch is $249 ? (nearest
100)
C. According to the model at what should the price
be set in order to have a weekly demand of 189,600 ipod Touches? $
(nearest $1)
Solutions
milcah answered 5 months agoRelated Solutions
Situation: The Ipod Touch has been out for two years now and a lot of data...
Situation: The Ipod Touch has been out for two years now and a
lot of data has been collected.
Relevant Relationship:
There is a functional relationship between Price of an IPod
Touch,pp and Weekly Demand,ss.
Below is a table of data that have been collected
Price,pp,($)
Weekly Demand,ss,(1,000s)
150
211
170
201
190
193
210
189
230
184
250
173
A.. Find the linear model that best fits this data using
regression and enter the model below
(for entry round...
Situation: The Ipod Touch has been out for two years now and a lot of data...
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
207
170
209
190
195
210
192
230
182
250
170
A.. Find the linear model that best fits this data using regression
and enter the model below
(for entry round...
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