4. Market research has provided the following data on the monthly sales of a licensedT- shirt...
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4. Market research has provided the following data on the monthly sales of a licensedT- shirt for a popular rock band. Price 15 10 Monthly Sales 2500 2200 20 800 12 18 1200 24 250 1600 a) Sketch a scatter plot and draw on your estimate of the line of best fit. b) Describe the correlation between the price and the monthly sales. c) Determine, using linear regression, the equation of the line of best fit and the correlation coefficient. (Use Desmos) d) Sketch the actual line of best fit, as shown on the calculator, on the grid above in a different colour. e) Predict the sales if the shirts are priced at $19. 4. Market research has provided the following data on the monthly sales of a licensedT- shirt for a popular rock band. Price 15 10 Monthly Sales 2500 2200 20 800 12 18 1200 24 250 1600 a) Sketch a scatter plot and draw on your estimate of the line of best fit. b) Describe the correlation between the price and the monthly sales. c) Determine, using linear regression, the equation of the line of best fit and the correlation coefficient. (Use Desmos) d) Sketch the actual line of best fit, as shown on the calculator, on the grid above in a different colour. e) Predict the sales if the shirts are priced at $19.
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