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Please use Excel to complete it. Give the detail and formula used. . You would like to sell your homemade beer at the local Farmers'
Please use Excel to complete it. Give the detail and formula used.
. You would like to sell your homemade beer at the local Farmers' Market. Customers will purchase their first bottle in a refillable container (growler) for $15 plus the price of the beer (it costs you $10 for the growler itself) and you estimate you may be able to sell 1,000 full growlers during the season. To determine the price you should charge for refills you did a test run for five weeks at different price points, giving the following: Price 15.00 16.00 16.50 17.00 19.00 Refills sold (per week) 510 497 480 470 465 (a) Model the data with an equation of the form y = mx + b, where y is the number of refills sold and x is the price per refill, using the first two points (15.00, 510) and (16.00, 497). (b) Find the line of best-fit in Excel by plotting the data, adding a linear trend line, and showing the equation. (c) Find the sum of squares error for both models. Which one has less error? . You would like to sell your homemade beer at the local Farmers' Market. Customers will purchase their first bottle in a refillable container (growler) for $15 plus the price of the beer (it costs you $10 for the growler itself) and you estimate you may be able to sell 1,000 full growlers during the season. To determine the price you should charge for refills you did a test run for five weeks at different price points, giving the following: Price 15.00 16.00 16.50 17.00 19.00 Refills sold (per week) 510 497 480 470 465 (a) Model the data with an equation of the form y = mx + b, where y is the number of refills sold and x is the price per refill, using the first two points (15.00, 510) and (16.00, 497). (b) Find the line of best-fit in Excel by plotting the data, adding a linear trend line, and showing the equation. (c) Find the sum of squares error for both models. Which one has less errorStep by Step Solution
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