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Costco sells paperback books in their retail stores and wanted to examine the relationship between price and demand. The price of a particular novel was adjusted each week and the weekly sales were recorded in the table below. Use Practice 3- Costco xlsx. You need to download the file and click on the tab Enable Editing to be able to work with this data. Run a regression with sales as the dependent variable. Based on the regression results what is the predicted sales when price $ 13.34? Round up your answer to 2 decimal places.

Costco sells paperback books in their retail stores and wanted to examine the relationship between price and demand. The price of a particular novel was adjusted each week and the weekly sales were recorded in the table below. Use Practice 3- Costco xlsx. You need to download the file and click on the tab Enable Editing to be able to work with this data. Run a regression with sales as the dependent variable. Based on the regression results what is the predicted sales when price $ 13.34? Round up your answer to 2 decimal places.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 3 Costco sells paperback books in their retail stores and wanted to examine the relationship between price and demand. The price of a particular novel was adjusted each week and the weekly sales were recorded in the table below. Use Practice 3-Costco.xlsx. t You need to download the file and click on the tab Enable Editing to be able to work with this data. Run a regression with sales as the dependent variable. Based on the regression results what is the predicted sales when price $ 13.34? Round up your answer to 2 decimal places. Next Previous
Transcribed Image Text:Question 3 Costco sells paperback books in their retail stores and wanted to examine the relationship between price and demand. The price of a particular novel was adjusted each week and the weekly sales were recorded in the table below. Use Practice 3-Costco.xlsx. t You need to download the file and click on the tab Enable Editing to be able to work with this data. Run a regression with sales as the dependent variable. Based on the regression results what is the predicted sales when price $ 13.34? Round up your answer to 2 decimal places. Next Previous
LO Sales Price 3 12 4 11 10 10 8 8. 10
Transcribed Image Text:LO Sales Price 3 12 4 11 10 10 8 8. 10
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