Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

9. A small independent organic food store offers a variety of specialty coffees. To determine whether price has an impact on sales, the managers kept

image text in transcribed
9. A small independent organic food store offers a variety of specialty coffees. To determine whether price has an impact on sales, the managers kept track of how many pounds of each variety of coffee were sold last month. Based on the data and summary statistics given below, what is the slope of the estimated regression line that relates the response variable (monthly sales) to the predictor variable (price per pound)? Price per pound Monthly sales Mean $ 8.75 $ 54.5 Standard Deviation 3.5 17.25 Correlation -0.92 A. 4.53 B. -4.53 C. -5.13 D. 94.18 E. 45.75

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Linear Algebra With Applications

Authors: W. Keith Nicholson

7th Edition

978-0070985100, 70985103

More Books

Students also viewed these Mathematics questions

Question

1. How might IS change a managers job?

Answered: 1 week ago