Question: The following data represent the daily demand ( in thousands of units) and the unit price (in dollars) for a product. Daily Demand Unit Price

The following data represent the daily demand ( in thousands of units) and the unit price (in dollars) for a product.

Daily Demand Unit Price 5 2 7 4 9 8 12 5 10 7 13 8 16 9 16 6

Develop the estimated regression equation that can be used to predict the daily demand given the unit price. State the independent and dependent variables; Explain whether the regression model is significant for the data set; Explain whether the coefficients are significant.

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