Consider the Following to Answer the Question(s) Below

question 28

Essay

Consider the following to answer the question(s) below:
A small independent organic food store offers a variety of specialty coffees. To determine whether price has an impact on sales, the managers kept track of how many kilograms of each variety of coffee were sold last month. The data, scatterplot, and summary statistics are shown below.
Note: In answers to problems 2, 4, and 5 we will be using regression equation coefficients received by computer software. If we apply textbook formulae, the value of intercept will be a little bit different.
-Estimate the linear regression model that relates the response variable (Kilograms Sold) to the predictor variable (Price per Kilogram).
a. Find the slope of the regression line.
b. Find the intercept of the regression line.
c. Write the equation of the linear model.

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Definitions:

E-Mail

Electronic mail, a method of exchanging messages between people using electronic devices.

Business Meeting

A gathering of people within an organization to discuss and decide on matters relating to business operations.

Critical Feedback

Constructive critiques aimed at improving performance or understanding.

Key Meeting Outcome

Defines the significant results or decisions derived from a meeting, which are critical to the meeting’s objectives.