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4.3 The following data relate to the sales of a product over an eight-month period: Month Sales (units) Price (€) Jan. 56 75 Feb. 72 65 Mar. 70 59 Apr. 65 69 May Jun. 68 69 75 49 Jul 66 59 Aug. b. Interpret the regression coefficient of the explanatory variable. c. Draw an appropriate graph of the data and relationship. d. Forecast sales in September if price is £65. 67 59 a. Investigate whether sales are affected more by the level of price or by the change in price of the product.

4.3 The following data relate to the sales of a product over an eight-month period: Month Sales (units) Price (€) Jan. 56 75 Feb. 72 65 Mar. 70 59 Apr. 65 69 May Jun. 68 69 75 49 Jul 66 59 Aug. b. Interpret the regression coefficient of the explanatory variable. c. Draw an appropriate graph of the data and relationship. d. Forecast sales in September if price is £65. 67 59 a. Investigate whether sales are affected more by the level of price or by the change in price of the product.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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4.3 The following data relate to the sales of a product over an eight-month period: Month Sales (units) Price (E) Jan. 56 75 Feb. 72 65 Mar. 70 59 Apr. 65 69 May 68 69 Jun. 75 49 Jul. 66 59 Aug. 67 59 a. Investigate whether sales are affected more by the level of price or by the change in price of the product. b. Interpret the regression coefficient of the explanatory variable. c. Draw an appropriate graph of the data and relationship. d. Forecast sales in September if price is £65.
Transcribed Image Text:4.3 The following data relate to the sales of a product over an eight-month period: Month Sales (units) Price (E) Jan. 56 75 Feb. 72 65 Mar. 70 59 Apr. 65 69 May 68 69 Jun. 75 49 Jul. 66 59 Aug. 67 59 a. Investigate whether sales are affected more by the level of price or by the change in price of the product. b. Interpret the regression coefficient of the explanatory variable. c. Draw an appropriate graph of the data and relationship. d. Forecast sales in September if price is £65.
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