Not sure how to solve for either excel or megastat. Could use help using either to solve Costco sells paperback books in their retail stores and wants to examine the relationship between the prices and sales. The price of a particular novel was adjusted each week and the weekly sales are in the following table. Management would like to use a simple linear regression model that uses prices to predict sales. Sales Price 8 $ 12 2 $ 15 7 $ 15 4 $ 12 4 $ 6 4 $ 4 4 $ 5 The predicted weekly sales for the novel when priced at $10 is equal to ________.
Not sure how to solve for either excel or megastat. Could use help using either to solve Costco sells paperback books in their retail stores and wants to examine the relationship between the prices and sales. The price of a particular novel was adjusted each week and the weekly sales are in the following table. Management would like to use a simple linear regression model that uses prices to predict sales. Sales Price 8 $ 12 2 $ 15 7 $ 15 4 $ 12 4 $ 6 4 $ 4 4 $ 5 The predicted weekly sales for the novel when priced at $10 is equal to ________.
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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Not sure how to solve for either excel or megastat. Could use help using either to solve
Costco sells paperback books in their retail stores and wants to examine the relationship between the prices and sales. The price of a particular novel was adjusted each week and the weekly sales are in the following table. Management would like to use a simple linear regression model that uses prices to predict sales.
| Sales | Price | ||
| 8 | $ | 12 | |
| 2 | $ | 15 | |
| 7 | $ | 15 | |
| 4 | $ | 12 | |
| 4 | $ | 6 | |
| 4 | $ | 4 | |
| 4 | $ | 5 | |
The predicted weekly sales for the novel when priced at $10 is equal to ________.
Multiple Choice
-
2.88
-
3.35
-
4.73
Correct -
5.61
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