A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data shown below.

What is the estimated mean change in the sales of the candy bar if the price goes up by $1.00?

What is the estimated slope for the candy bar price and salesdata?

What is the percentage of the total variation in candy bar sales explained by the regressionmodel?

What percentage of the total variation in candy bar sales is explained byprices?

City

City A

City B

City C

City D

City E

City F

Price ($)

1.30

1.60

1.80

2.00

2.40

2.90

Sales

100

90

90

40

38

32

SHOW YOUR WORK. SHOW THE FORMULAS USING THE CALCULATOR