A company sets different prices for a particular stereo system in eight different regions of the country. The accompanying table shows the numbers of units sold and the corresponding prices in wwww hundreds of dollars. Sales Price 420 5.5 a) Estimate the linear regression of sales on price. b) Find and interpret the coefficient of determination (R²) for the regression of stereo system sales on price. 380 w 350 6.5 400 www 440 380 6.5 450 4.5 420 5

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Author:Amos Gilat
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A company sets different prices for a particular stereo system in
eight different regions of the country. The accompanying table
shows the numbers of units sold and the corresponding prices in
wwww
hundreds of dollars.
Sales
Price
420
5.5
a) Estimate the linear regression of sales
on price.
b) Find and interpret the coefficient of
determination (R²) for the regression of
stereo system sales on price.
380
w
350
6.5
400
www
440
380
6.5
450
4.5
420
5
Transcribed Image Text:A company sets different prices for a particular stereo system in eight different regions of the country. The accompanying table shows the numbers of units sold and the corresponding prices in wwww hundreds of dollars. Sales Price 420 5.5 a) Estimate the linear regression of sales on price. b) Find and interpret the coefficient of determination (R²) for the regression of stereo system sales on price. 380 w 350 6.5 400 www 440 380 6.5 450 4.5 420 5
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