Use the regression equation from Example 4.6 to find how many new jackets the shop can expect

Question:

Use the regression equation from Example 4.6 to find how many new jackets the shop can expect to sell if they are priced at £23.50.

The regression equation tells us that: Number sold = 16.6838 – 0.507353 Price If we put the figure ‘23.5’ in where the word ‘Price’ appears in the equation we can work out what, according to the equation, the number sold should be.

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Stats Means Business

ISBN: 9780750653640

1st Edition

Authors: John Buglear

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Question Posted: Oct 29, 2024 09:00 AM

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Use the regression equation from Example 4.6 to find how many new jackets the shop can expect

Question:

Number sold (if price is 23.5) = 16.6838 0.507353 (23.5) = 16.6838 11.9228 4.761 to three decimal places

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Stats Means Business

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