Question: Caf Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered
Caf Michigan's 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:
Using simple linear regression and given that the price per cup is $1.80,the forecasted demand for mocha latte coffees will be ____cups (enter your response rounded to one decimal place).
Price $2.60 $3.40 $2.10 $4.20 $3.10 $4.00 Number Sold 765 515 975 250 320 490Step by Step Solution
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