Intermediate Algebra
Intermediate Algebra
6th Edition
ISBN: 9781264120901
Author: Julie Miller
Publisher: Mcgraw-hill Higher Education (us)
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Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price Number Sold $2.70 765 $3.50 515 $2.00 990 $4.30 240 $3.10 325 $4.00 475 Using simple linear regression and given that the price per cup is $1.85, the forecasted demand for mocha latte coffees will be cups (enter your response rounded to one decimal place).
Given the correlation coefficient (r-value), determine the strength of the relationship. Defend your answers
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