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A Company Has Recorded Data on the Daily Demand for Its

question 58

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A company has recorded data on the daily demand for its product (Y in thousands of units) and the unit price (X in hundreds of dollars). A sample of 15 days demand and associated prices resulted in the following data.  A company has recorded data on the daily demand for its product (Y in thousands of units) and the unit price (X in hundreds of dollars). A sample of 15 days demand and associated prices resulted in the following data.   a.Using the above information, develop the least-squares estimated regression line and write the equation. b.Compute the coefficient of determination. c.Perform an F test and determine whether or not there is a significant relationship between demand and unit price. Let  \alpha  = 0.05. d.Would the demand ever reach zero? If yes, at what price would the demand be zero?
a.Using the above information, develop the least-squares estimated regression line and write the equation.
b.Compute the coefficient of determination.
c.Perform an F test and determine whether or not there is a significant relationship between demand and unit price. Let α\alpha = 0.05.
d.Would the demand ever reach zero? If yes, at what price would the demand be zero?


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