Question
1. Consider the size of your population from task 2. Calculate the percent of surveyed individuals that are interested in purchasing your product and scale
1. Consider the size of your population from task 2. Calculate the percent of surveyed individuals that are interested in purchasing your product and scale your population by that much. (For example, ACC has about 11,000 students. If only 40% of surveyed ACC students were interested in the product, and you planned on selling it at ACC, then you would use a population of 4,400 interested ACC students.) 2. Accumulate and scale your data. If you have 10 data points of interested buyers and a population of 4,400, then each data point represents 440 people. 3. As in the project prep worksheet, translate your data into ordered pairs of the form (demand, price). 4. Use a linear regression tool to produce a linear demand function p(x) = mx b. 5. Create a summary of your work in steps 1-4 including: a. Your scaled population of interested buyers b. How many customers each interested survey response represents c. A list of your data points/ordered pairs d. Your linear demand function
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