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Please explain each step and answer thoroughly and in simple terms! After gathering 1000 days worth of data on how many tickets you sell based
Please explain each step and answer thoroughly and in simple terms!
After gathering 1000 days worth of data on how many tickets you sell based on price, you see they have a linear relationship and you compute the least squares line: yhat = 100 x + 20000, where yhat is the predicted number of tickets and x is the price ofthe ticket in dollars. a) How many tickets do you expect to sell ifthe price is $20? b) How many fewer tickets do I expect to sell for each dollar that | make the ticket more expensiveStep by Step Solution
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