A market research consultant for a supermarket chain chose a large city to test market a new

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A market research consultant for a supermarket chain chose a large city to test market a new brand of mixed nuts packaged in 8-ounce cans. After a year of varying the selling price and recording the monthly demand, the consultant arrived at the following demand table, where y is the number of cans purchased per month (in thousands) at x dollars per can:
A market research consultant for a supermarket chain chose a

(A) Use the method of least squares to find a demand equation.
(B) If each can of nuts costs the supermarket chan $3, how should the nuts be period to achieve a maximum monthly profit?

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College Mathematics for Business Economics Life Sciences and Social Sciences

ISBN: 978-0321614001

12th edition

Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen

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