c). Find the equation of the sample regression line using Minitab.  d). Interpret the meaning of the coefficients of the equation of the sample regression line.

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6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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In order to determine a realistic price for a new product that a company wants to market the company’s research department selected 10 sites thought to have essentially identical sales potential and offered the product in each at a different price. The resulting sales are recorded in the accompanying table: 

 

Price ($)

Sales ($1,000s)

15.00

15

15.50

14

16.00

16

16.50

9

17.00

12

17.50

10

18.00

8

18.50

9

19.00

6

19.50

5

 

c). Find the equation of the sample regression line using Minitab. 

d). Interpret the meaning of the coefficients of the equation of the sample regression line.

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