Question: What is the demand equation from the six data points from the scatter plot(use the number sold as the x coordinate). Does the relationship appear

What is the demand equation from the six data points from the scatter plot(use the number sold as the x coordinate). Does the relationship appear to be linear? Use regression analysis to find the line of best fit. This line will be your demand equation. How strong is the correlation?

sold price

355 1.5

320 2

265 2.5

235 3

180 3.5

125 4

I used excel and plotted the points and use excel to find the trend line.

I got -91.4x +498 with a correlation value of .993.

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