Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: PriceNumber Sold$2.70760$3.40515$2.10990$4.10250$3.20325$4.10475Usingsimple linear regressionLOADING...and given that the price per cup is$1.80,the forecasted demand for mocha latte coffees will benothingcups (enter your response rounded to one decimal place).

Price (x) Number Sold (y) xy x2 $2.70 760 2052 7.29 $3.40 515 1751 11.56 $2.10 990 2079 4.41…

Answered: Café Michigan's manager, Gary Stark,…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values:

Price	Number Sold
$2.70	760
$3.40	515
$2.10	990
$4.10	250
$3.20	325
$4.10	475

Using

simple linear regression

and given that the price per cup is

$1.80,

the forecasted demand for mocha latte coffees will be

nothing

cups (enter your response rounded to one decimal place).

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