A company has recorded data on the daily demand for its product (y in thousands of...

A company has recorded data on the daily demand for its product (y in thousands of units) and the unit price (x in hundreds of dollars). A sample of 15 days demand and associated prices resulted in the following data. x75 x2 437 y180 y2 2266 xy844 a. Using the above information, develop the least-squares estimated regression line and write the equation. b. Compute the coefficient of determination. c. Perform an F test and determine whether or not there is a significant relationship between demand and unit price. Let   0.05. d. Would the demand ever reach zero? If yes, at what price would the demand be zero?

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orchestra answered 2 years ago

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