Question: A company sets different prices for a particular DVD system in eight different regions of the country. The accompanying table shows the numbers of units

A company sets different prices for a particular DVD system in eight different regions of the country. The accompanying table shows the numbers of units sold and the corresponding prices (in dollars).
a. Graph these data, and estimate the linear regression of sales on price.
b. What effect would you expect a $50 increase in price to have on sales?

Step by Step Solution

3.30 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a Regression Analysis The regression equation is Sales 45... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

488-M-S-L-R (2246).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!