-. Find the linear model that best fits this data using regression and enter the model below or entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1) = T(p) = B. The squared correlation coefficient r was (Select an answer 0.95 note: values less than 0.95 MAY mean the model is not appropriate for making predictions) Now answer these two questions using the UNROUNDED model parameters C. What does the model predict will be the weekly demand if the price of an ipod touch is $170 ? (nearest 100) D, According to the model at what should the price be set in order to have a weekly demand of 170,500 ipod Touches? $ (nearest $1) Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Answer

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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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,p and Weekly Demand,s.
Below is a table of data that have been collected
Price,p,($) Weekly Demand,s,(1,000s)
150
216
170
204
190
196
210
189
230
178
250
169
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)
B. The squared correlation coefficient rʻ was Select an answer V 0.95
(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)
Now answer these two questions using the UNROUNDED model parameters
C. What does the model predict will be the weekly demand if the price of an ipod touch is $170 ?
(nearest 100)
D, According to the model at what should the price be set in order to have a weekly demand of
170,500 ipod Touches? $
(nearest $1)
Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009
Answer
Question Help: Message instructor
Submit Question
DEC
étv S
吕0
888
F7
FA
Transcribed Image Text:Situation: The Ipod Touch has been out for two years now and a lot of data has been collected. Relevant Relationship: There is a functional relationship between Price of an IPod Touch,p and Weekly Demand,s. Below is a table of data that have been collected Price,p,($) Weekly Demand,s,(1,000s) 150 216 170 204 190 196 210 189 230 178 250 169 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) B. The squared correlation coefficient rʻ was Select an answer V 0.95 (note: values less than 0.95 MAY mean the model is not appropriate for making predictions) Now answer these two questions using the UNROUNDED model parameters C. What does the model predict will be the weekly demand if the price of an ipod touch is $170 ? (nearest 100) D, According to the model at what should the price be set in order to have a weekly demand of 170,500 ipod Touches? $ (nearest $1) Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Answer Question Help: Message instructor Submit Question DEC étv S 吕0 888 F7 FA
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