15 Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.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 collectedPrice,p, (S)Weekly Demand,s,(1,000s)150214170200191190210190185230250168A.. 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)s = T(p)B. The squared correlation coefficient rí was Select an answer v 0.952(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 parametersC. What does the modet predict will be the weekly demand if the price of an ipod touch is $177?(nearest 100) *** Use the actual equation from the regression calculator ***D. According to the model at what should the price be set in order to have a weekly demand of 180,700ipod Touches? S(nearest S1)Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept, 2009 Answer

Regression equation is used to predict the value of response variable using one or more explanatory…

Situation: The Ipod Touch has been out for two years now and a lot of data has been collected. 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) 150 214 170 200 190 191 210 190 230 185 250 168 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) S = T(p) %3D B. The squared correlation coefficient r was Select an answer v0.95 (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 modet predict will be the weekly demand if the price of an ipod touch is $177? (nearest 100)*** Use the actual equation from the regression calculator *** D. According to the model at what should the price be set in order to have a weekly demand of 180,700 ipod Touches? S (nearest $1) Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Answer