Demand for Smartphones The following table shows worldwide sales of a type of phone and their average selling prices in 2012, 2013, and 2017.Year 2012 2013 2017Selling Price p ($100)4Sales q (billions) 0.53122Find the regression line (round coefficients to one decimal place).q(p) =Use the regression line to estimate the demand (in millions of units sold) when the selling price was $320.million

The given data as follows p selling price ($100) q sales (billions) 4 0.5 3 1 2 2

Answered: Demand for Smartphones The following…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Similar questions

What is the dollar amount of change in sales for each new year according to the regression (slope) model? Do not use commas or $ in your answer.
A popular television show recently released a video previewing the upcoming season on his website as fans of the show discovered the video the number of views of the preview video has grown each day during the last two weeks the number of days in the release of the video and the natural log of the number of video views as shown in the scatterplot. based on the scatterplot and residual plot, what type of model would be appropriate for summarizing the relationship between days and numbers of views? an exponential model is appropriate because the Residual plot does not show a clear pattern A linear model is appropriate because of scatterplot shows a strong positive linear relationship A power model is appropriate because the scatterplot of days a natural log of use is strong and linear an exponential model is appropriate because the relationship between the days in the natural log of views in linear and the residual plot does not show a clear pattern
The following table shows worldwide sales and projected sales of a certain type of phone and their average selling prices in 2020, 2022, and 2024. Year 2020 2022 2024 Selling Price ($100) p 6 5 4.5 Sales (billions) q 1 1.2 1.3 Find the regression line. 9(p) = Use the regression line to estimate the demand (in millions of units sold) when the selling price was $250. X million 1.6 Need Help? Read It Master It
Prices and mileage of 48 Dodge 2500 Pickup trucks with Cummins diesel engines. Prices ranged from $28,925 to $68,650. Mileage ranged from 315 to 186,466. While I did not share the trucks were 2013 to 2020 models. Please show all work. Interpret b0 in the context of this problem. Interpret b1 in the context of this problem. What percent of total variation in prices is explained by the regression model? Provide evidence to support your answer. Price Mileage 52293 34450 50987 23372 62988 21738 37500 81176 66000 23118 47601 71143 47750 18214 42000 32303 50987 23372 28925 143737 42050 58561 51738 9691 51500 23969 44988 48781 29500 114809 46975 16918 63999 15507 46975 16918 43222 50459 38386 87192 42000 68722 62250 14042 62998 21738 32130 103644 52293 34450 52900 68883 53172 3656 53494 315 39594 88441 63246 23631 58250 34974 59391 18383 50650 42737 54976 84200 68650 14401 51114 47433 43900 74106 37450…
Demand for Smartphones The following table shows worldwide sales of a type of phone and their average selling prices in 2012, 2013, and 2017. Year 2012 2013 2017 Selling Price p ($100) 4 Sales q (billions) 0.5 3 1 2 2 Find the regression line (round coefficients to one decimal place). q(p) = 1.0166 X Use the regression line to estimate the demand (in millions of units sold) when the selling price was $320. 1016.6 million
Develop a scatterplot and explore the correlation between customer age and net sales by each type of customer (regular/promotion). Use the horizontal axis for the customer age to graph. Find the linear regression line that models the data by each type of customer. Round the rate of changes (slopes) to two decimal places and interpret them in terms of the relation between the change in age and the change in net sales. What can you conclude? Hint: Rate of Change = Vertical Change / Horizontal Change = Change in y / Change in x
B-4 A toy store manager would like to know how the price can affect the sales of toys. In his data, he obtained 100 pairs of prices (unit: £) and volume of sales (unit: hundreds) for the toys. A simple linear regression was run with Sales as the dependent variable and Price as the independent variable with the following results. Regression Statistics R Square Adj. RSqr StErr of EST 0.876 0.767 0.701 4.184 Summary Table Variable Coeff. Std. Err Intercept 64.742 11.310 Price -2.645 0.602 (a) Write down the estimated regression equation. Explain this regression equation. (b) What's the value for R Square? Explain the meaning of this value. (c) Test the significance of the model at a=0.05 level. Write down the hypothesis you are testing, the statistic you use to evaluate the test, and your conclusion. (d) Use the regression output to construct a 99% confidence interval for the predicted sales when the price is set to be 15. (e) A colleague in the toy store claims that £1 increase in the…
What is the explanatory variable, what is the response variable. What is the regression equation for this data. Plot the regression line in your calculator and draw it on your graph. Interpret in context the slope. Interpret in context the y-intercept. What is the residual at 45 years of age. Plot the residual plot on the axis to the right

Recommended textbooks for you

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Mathematics For Machine Technology

Advanced Math

ISBN:

9781337798310

Author:

Peterson, John.

Publisher:

Cengage Learning,

Basic Technical Mathematics

Advanced Math

ISBN:

9780134437705

Author:

Washington

Publisher:

PEARSON

Topology

Advanced Math

ISBN:

9780134689517

Author:

Munkres, James R.

Publisher:

Pearson,

SEE MORE TEXTBOOKS