Question: Use the regression equation from Example 4.6 to find how many new jackets the shop can expect to sell if they are priced at 23.50.

Use the regression equation from Example 4.6 to find how many new jackets the shop can expect to sell if they are priced at £23.50.

The regression equation tells us that: Number sold = 16.6838 – 0.507353 Price If we put the figure ‘23.5’ in where the word ‘Price’ appears in the equation we can work out what, according to the equation, the number sold should be.

Number sold (if price is 23.5) = 16.6838 0.507353 (23.5) = 16.6838

Number sold (if price is 23.5) = 16.6838 0.507353 (23.5) = 16.6838 11.9228 4.761 to three decimal places

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