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A local manufacturer is interested in estimating how sales are influenced by the price of their product. They randomly selected 13 retailers selling their product
A local manufacturer is interested in estimating how sales are influenced by the price of their product. They randomly selected 13 retailers selling their product and collected data regarding selling price in dollars (x) and number of units sold (y). a) Based on the data shown in the table, use software such as Excel to calculate the slope and y-intercept and determine the regression line. Round each value to two decimal places. y^=+x b) Use the regression equation to predict the number sold if the item is priced at $78. Round answer to the nearest whole number. 21 households were interviewed for the amount of money spent on food each week. The data (in dollars) is as follows: a) Use software such as Excel to determine the 54th percentile, P54. Round your answer to 2 decimal places
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