A Store Manager Wants to Know the Demand Y for an Energy

question 8

Multiple Choice

A store manager wants to know the demand y for an energy bar as a function of price x. The daily sales for three different prices of the energy bar are shown in the table. Price, x
$ 1.02
$ 1.23
$ 1.54
Demand, y
410
365
280
(i) Use the regression capabilities of a graphing utility to find the least squares regression line for the data.
(ii) Use the model to estimate the demand when the price is $1.38.

• A)(i) \(y = - 24.314583 x + 382.38409\) ; (ii)348.708392
• B)(i) \(y = - 24.314583 x + 382.38409\) ; (ii)-416.059787
• C)(i) \(y = 382.38409 x - 24.314583\) ; (ii)505.287381
• D)(i) \(y = - 24.314583 x - 382.38409\) ; (ii)-416.059787
• E)none of the above

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Definitions:

Retail Hardware Store

A business venue that sells tools, building supplies, and equipment directly to consumers for home improvement and repair projects.

Chargeout Rates

The rates that a company charges for its services, often used in professional services industries to bill clients.

Profit Margin

A financial metric used to evaluate the profitability of a business, calculated as net income divided by revenue.

Mass Service

A type of service delivery designed to manage and serve large numbers of customers efficiently, often seen in sectors like banking and fast food.