<p><br/></p><p>Coffee Palace's manager, Joe Felan, suspects that and for mocha latte coffees depends on the price being charged. Based on historical observations, Joe has gathered the following data, which show the numbers of these coffees sold over six different price values: </p><table><thead><tr class="firstRow"><th style="text-align: left;">Price</th><th style="text-align: center;">Number Sold</th></tr></thead><tbody><tr><td>$2.70</td><td style="text-align: center;">760</td></tr><tr><td>$3.50</td><td style="text-align: center;">510</td></tr><tr><td>$2.00</td><td style="text-align: center;">980</td></tr><tr><td>$4.20</td><td style="text-align: center;">250</td></tr><tr><td>$3.10</td><td style="text-align: center;">320</td></tr><tr><td>$4.05</td><td style="text-align: center;">480</td></tr></tbody></table><p>Using these data, how many mocha latte coffees would be forecast to be sold according to simple linear regression if the price per cup were $2.80?</p>

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Coffee Palace's manager, Joe Felan, suspects that and for mocha latte coffees depends on the...

Coffee Palace's manager, Joe Felan, suspects that and for mocha latte coffees depends on the price being charged. Based on historical observations, Joe 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 these data, how many mocha latte coffees would be forecast to be sold according to simple linear regression if the price per cup were $2.80?

Expert Solution

Amanda K answered 2 years ago

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