Question
Caf Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered
Caf Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values:
| Price | Number Sold |
| $2.60 | 770 |
| $3.40 | 505 |
| $2.00 | 980 |
| $4.30 | 250 |
| $3.00 | 315 |
| $4.05 | 475 |
Using simple linear regression and given that the price per cup is $1.85, the forecasted demand for mocha latte coffees will be ___cups (enter your response rounded to one decimal place).
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
