Question: Solve problem 1, with Excel S (or similar). Send the excel file with all data and formulas Solved Problem 1 Chicken Palace periodically offers carryout

Solve problem 1, with Excel S (or similar). Send the excel file with all data and formulas

with all data and formulas Solved Problem 1 Chicken Palace periodically offers

Solved Problem 1 Chicken Palace periodically offers carryout five -piece chicken dinners at special prices. Let Y be the number of dinners sold and X be the price. Based on the historical observations and calculations in the following table, determine the regression equation, correlation coefficient, and coefficient of determination. How many dinners can Chicken Palace expect to sell at $3.00 each? Solved Problem 1 SOLUTION We use the computer to calculate the best values of a,b, the correlation coefficient, and the coefficient of determination abrr2=1,454.60=277.63=0.84=0.71 The regression line is Y=a+bX=1,454.60277.63X For an estimated sales price of $3.00 per dinner Y=a+bX=1,454.60277.63(3.00)=621.71or622dinners

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