The iPod Touch has been out for several years now and a lot of data has been collected. There is a functional relationship between the **Price of an iPod Touch** and **Weekly Demand**. Below is a table of data that have been collected: | Price \(P\) ($) | Weekly Demand \(S\) (1,000s) | |-----------------|------------------------------| | 150 | 208 | | 170 | 207 | | 190 | 200 | | 210 | 192 | | 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 slope value to nearest 0.01 and constant parameter to nearest 1) \[ T(p) = \] **Now answer these two questions:** **B.** What does the model predict will be the weekly demand if the price of an iPod Touch is $206? (nearest 100) **C.** According to the model at what should the price be set in order to have a weekly demand of 192,300 iPod Touches? (nearest $1) Note: In the "real" world, Apple sold about 20 million iPod Touch's from Sept. 2007-Sept. 2009. [Button: Check Answer]
The iPod Touch has been out for several years now and a lot of data has been collected. There is a functional relationship between the **Price of an iPod Touch** and **Weekly Demand**. Below is a table of data that have been collected: | Price \(P\) ($) | Weekly Demand \(S\) (1,000s) | |-----------------|------------------------------| | 150 | 208 | | 170 | 207 | | 190 | 200 | | 210 | 192 | | 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 slope value to nearest 0.01 and constant parameter to nearest 1) \[ T(p) = \] **Now answer these two questions:** **B.** What does the model predict will be the weekly demand if the price of an iPod Touch is $206? (nearest 100) **C.** According to the model at what should the price be set in order to have a weekly demand of 192,300 iPod Touches? (nearest $1) Note: In the "real" world, Apple sold about 20 million iPod Touch's from Sept. 2007-Sept. 2009. [Button: Check Answer]
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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Question
![The iPod Touch has been out for several years now and a lot of data has been collected.
There is a functional relationship between the **Price of an iPod Touch** and **Weekly Demand**. Below is a table of data that have been collected:
| Price \(P\) ($) | Weekly Demand \(S\) (1,000s) |
|-----------------|------------------------------|
| 150 | 208 |
| 170 | 207 |
| 190 | 200 |
| 210 | 192 |
| 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 slope value to nearest 0.01 and constant parameter to nearest 1)
\[ T(p) = \]
**Now answer these two questions:**
**B.** What does the model predict will be the weekly demand if the price of an iPod Touch is $206? (nearest 100)
**C.** According to the model at what should the price be set in order to have a weekly demand of 192,300 iPod Touches? (nearest $1)
Note: In the "real" world, Apple sold about 20 million iPod Touch's from Sept. 2007-Sept. 2009.
[Button: Check Answer]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0aec33da-7e9a-4f18-8fb9-9cc4b6ca964e%2Ff312a958-4508-4b43-b70d-a1ffbc0e7e9e%2F0fmeb2.jpeg&w=3840&q=75)
Transcribed Image Text:The iPod Touch has been out for several years now and a lot of data has been collected.
There is a functional relationship between the **Price of an iPod Touch** and **Weekly Demand**. Below is a table of data that have been collected:
| Price \(P\) ($) | Weekly Demand \(S\) (1,000s) |
|-----------------|------------------------------|
| 150 | 208 |
| 170 | 207 |
| 190 | 200 |
| 210 | 192 |
| 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 slope value to nearest 0.01 and constant parameter to nearest 1)
\[ T(p) = \]
**Now answer these two questions:**
**B.** What does the model predict will be the weekly demand if the price of an iPod Touch is $206? (nearest 100)
**C.** According to the model at what should the price be set in order to have a weekly demand of 192,300 iPod Touches? (nearest $1)
Note: In the "real" world, Apple sold about 20 million iPod Touch's from Sept. 2007-Sept. 2009.
[Button: Check Answer]
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