Demand Data Price -vs- Demand: x 2 Price per item {in doliars) 1600 . y = Demand (number of Items sold) 14m 3 12m correlation coefcient: a r = o.950 m 1000 I- . . -I 300 regressmn equation: E 600 f' = 103X + 1494 Z 40" sampte size: 200 n = 19 o o 2 4 s 3 1o 12 53mph \"18395: x = $6.50 y = 324.5 Price per Item (in dollars) Answer the following questions regarding the relationship between price (x) and demand (y). (a) Is there a signicant linear correlation between these variables? 9 Yes ONo I (b) What percentage of the variation in demand can be explained by the iinear relation to price? Enter your answer as a percentage with. one decimal place. :|% (c) How many items would you expect to sell if the price was set at $?.50? Round your answer to the nearest whole number. items