Question: Caf Michigans manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered
Caf Michigans 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 | 760 |
| $3.50 | 510 |
| $2.00 | 980 |
| $4.20 | 250 |
| $3.10 | 320 |
| $4.05 | 480 |
a. Using these data, how many mocha latte coffees would be forecast to be sold according to simple linear regression if the price per cup were $2.80? [ Select ] ["650", "677", "675", "690"]
b. What is the MAPE? [ Select ] ["26%", "15%", "7%", "31%", "17%"]
c. What is the Coefficient of Determination? 25% , and what does that tell you? [ Select ] ["in this case, how much can be determined by the regression line", "How strong the relationship is between X and Y", "That there is a weak relationship", "Cannot determine based on the data given", "There is no correlation in this problem"]
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