Question
The following table shows worldwide sales of a type of phone and their average selling prices in 2012, 2013, and 2017. Year 2012 2013 2017
The following table shows worldwide sales of a type of phone and their average selling prices in 2012, 2013, and 2017.
| Year | 2012 | 2013 | 2017 |
|---|---|---|---|
| Selling Price p ($100) | 4 | 3 | 2 |
| Sales q (billions) | 0.9 | 1 | 2 |
Find the regression line (round coefficients to one decimal place).
q(p) =
Use the regression line to estimate the demand (in millions of units sold) when the selling price was $350.
____ million
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Foundations Of Financial Management
Authors: Stanley B Block, Geoffrey A Hirt
12th Edition
0073295817, 9780073295817
