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,pp and Weekly Demand,ss. Below is a table of data that have been collected Price,pp,($) Weekly Demand,ss,(1,000s) 150 216 170 208 190 198 210 190 230 180 250 173 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)=s=T(p)= B. The squared correlation coefficient r2r2 was 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 $196 ? (nearest 100) *** Use the actual equation from the regression calculator ***
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Situation: The Ipod Touch has been out for two years now and a lot of data has been collected.
Relevant Relationship:
There is a
Below is a table of data that have been collected
| Price,pp,($) | Weekly Demand,ss,(1,000s) |
|---|---|
| 150 | 216 |
| 170 | 208 |
| 190 | 198 |
| 210 | 190 |
| 230 | 180 |
| 250 | 173 |
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)=s=T(p)=
B. The squared
(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 $196 ? (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 187,600 ipod Touches? $ (nearest $1)
Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Answer
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