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model predict will be the weekly demand if the price of an ipod touch is $ (nearest 100)

model predict will be the weekly demand if the price of an ipod touch is $ (nearest 100)

MATLAB: An Introduction with Applications
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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(note: values less than 0.95 MAY mean the model is not appropriate for making predictions) Now answer these two questions using the UNROUNDED model parameters C. What does the model predict will be the weekly demand if the price of an ipod touch is $215 ? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 196,300 ipod Touches? $ (nearest $1) Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Answer Submit Question Jump to Answer
Transcribed Image Text:(note: values less than 0.95 MAY mean the model is not appropriate for making predictions) Now answer these two questions using the UNROUNDED model parameters C. What does the model predict will be the weekly demand if the price of an ipod touch is $215 ? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 196,300 ipod Touches? $ (nearest $1) Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Answer Submit Question Jump to Answer
Relevant Relationship: There is a functional relationship between Price of an IPod Touch,p and Weekly Demand, s. Below is a table of data that have been collected Price,p,($) Weekly Demand, s,(1,000s) 150 215 170 207 190 192 210 193 230 176 250 171 A.. Find the linear model that best fits this data using regression and enter the model below (for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1) T(p) = B. The squared correlation coefficient r was Select an answer v 0.95 (note: values less than 0.95 MAY mean the model is not appropriate for making predictions) Now answer these two questions using the UNROUNDED model parameters C. What does the model predict will be the weekly demand if the price of an ipod touch is $215 ? (nearest 100)
Transcribed Image Text:Relevant Relationship: There is a functional relationship between Price of an IPod Touch,p and Weekly Demand, s. Below is a table of data that have been collected Price,p,($) Weekly Demand, s,(1,000s) 150 215 170 207 190 192 210 193 230 176 250 171 A.. Find the linear model that best fits this data using regression and enter the model below (for entry round the linear parameter value to nearest 0.01 and constant parameter to nearest 1) T(p) = B. The squared correlation coefficient r was Select an answer v 0.95 (note: values less than 0.95 MAY mean the model is not appropriate for making predictions) Now answer these two questions using the UNROUNDED model parameters C. What does the model predict will be the weekly demand if the price of an ipod touch is $215 ? (nearest 100)
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