Question: 13. Cafe Michigan's manager, Garv Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has

13. Cafe Michigan's manager, Garv 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 $2.70 760 $3.50 510 $1.90 975 $4.30 245 $3.20 315 $4.10 480 Using simple linear regression2 and given thatthe price per cup is $1 .?5, the forecasted demand for mocha latte coffees will be cups (enter your response rounded to one decima:l place)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
