The following data represent the number of Shrimp Feast meals sold per day at a local seafood restaurant and ther corresponding selling price. Management realizes that the demand fluctuates based upon the price.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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The following data represent the number of Shrimp Feast meals sold per day at a local seafood restaurant and ther corresponding selling price. Management realizes that the demand fluctuates based upon the price.

 

Price (x)

Units Sold (y)

$34

3

36

4

32

6

35

5

30

9

38

2

40

1

30

11

28

14

38

3

 

 

 

 

 

 

Enter the above data in excel and perform a regression analysis.

Refer to Question
 
1.  What is the b1 value for this data?
Group of answer choices
39.41
15.82
6.5
-.99
 
2. How reliable would your regression line be if you used it to estimate the Quantity Sold?
Group of answer choices
99%
93%
77%
87%
 
3. What is the value of your correlation coefficient?  
Group of answer choices
.99
.93
.77
.87
 

 

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