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There is a functional relationship between Price of an IPod Touch, p and Weekly Demand, a. Below is a table of data that have been collected Price,p,($) Weekly Demand, s,(1,000s) 150 216 170 208 190 191 210 188 230 182 250 168 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) T(p) 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 model predict will be the weekly demand if the price of an ipod touch is $189? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 183,900 ipod Touches? S (nearest $1)

There is a functional relationship between Price of an IPod Touch, p and Weekly Demand, a. Below is a table of data that have been collected Price,p,($) Weekly Demand, s,(1,000s) 150 216 170 208 190 191 210 188 230 182 250 168 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) T(p) 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 model predict will be the weekly demand if the price of an ipod touch is $189? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 183,900 ipod Touches? S (nearest $1)

MATLAB: An Introduction with Applications
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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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) 150 216 170 208 190 191 210 188 230 182 250 168 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) B. The squared correlation coefficient rf was Select an answer v 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 $189? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 183,900 (nearest $1) ipod Touches? S
Transcribed Image Text:There is a functional relationship between Price of an IPod Touch,p and Weekly Demand,s. Below is a table of data that have been collected Price,p,($) Weekly Demand,s,(1,000s) 150 216 170 208 190 191 210 188 230 182 250 168 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) B. The squared correlation coefficient rf was Select an answer v 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 $189? (nearest 100) D. According to the model at what should the price be set in order to have a weekly demand of 183,900 (nearest $1) ipod Touches? S
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