Debbie is president of a company that produces garbage cans. The company has developed a new type of garbage can that is animal- proof, and Debbie wants to use the demand function to help set a price. She surveys ten retailers to get an approximation of how many garbage cans would be demanded at each price, and creates a table.
a. Find the equation of the linear regression line. Round the slope and y-intercept to the nearest hundredth.
b. Give the slope of the regression line and interpret the slope as a rate.
c. Find the correlation coefficient and interpret it. Round to the nearest hundredth.
d. Based on the linear regression line, how many garbage cans would be demanded at a wholesale price of $18.00? Round to the nearest hundred garbage cans.
e. Was your answer to part d an example of extrapolation or interpolation? Explain.
f. Look at your answer to part d. If the company sold that many garbage cans at $18.00, how much money would the company receive from the garbage can sales?

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Quantity Demanded By Wholesale Retailers (in Price ($) (p) | hundreds) (q) 13.00 13.50 14.00 14.50 15.00 15.50 16.00 16.50 17.00 17.50 744 690 630 554 511 456 400 300 207 113