### Situation Analysis for iPod Touch DemandThe iPod Touch has been on the market for two years, and substantial data has been collected regarding its performance. This analysis seeks to understand the functional relationship between the price of an iPod Touch and its weekly demand.### Relevant RelationshipThere is a functional relationship between the Price of an iPod Touch, $ p $, and Weekly Demand, $ s $. The table below summarizes the collected data:| Price, $ p $ (\$) | Weekly Demand, $ s $ (1,000s) ||---------------------|--------------------------------|| 150 | 210 || 170 | 208 || 190 | 199 || 210 | 187 || 230 | 183 || 250 | 168 |### Tasks and Analysis#### A. Linear Model DeterminationFind the linear model that best fits this data using regression and enter the model below. For entry, round the linear parameter value to the nearest 0.01 and the constant parameter to the nearest 1.\[ s = T(p) = \]#### B. Correlation CoefficientThe squared correlation coefficient was 0.95. (Note: Values less than 0.95 may indicate that the model is not appropriate for making predictions).#### C. Weekly Demand PredictionUsing the unrounded model parameters, what does the model predict will be the weekly demand if the price of an iPod Touch is \$183? \[ \text{(nearest 100)} \]#### D. Price Setting for a Target DemandAccording to the model, at what price should the iPod Touch be set to achieve a weekly demand of 186,100 units?\[ \text{\$ (nearest \$1)} \]### Real-World ContextNote: In the "real" world, Apple sold about 20 million iPod Touch units from Sept. 2007 - Sept. 2009.

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Answered: Situation: The Ipod Touch has been out…

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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