Statistics Solutions

(See Solution) The following data represent the number of flash drives sold per day at a local computer shop and their prices. Price Units Sold $34 3 36

Question: The following data represent the number of flash drives sold per day at a local computer shop and their prices.

Price	Units Sold
$34	3
36	4
32	6
35	5
30	9
38	2
40	1

Develop the estimated regression equation that could be used to predict the quantity sold given the price. Interpret the slope.
Did the estimated regression equation provide a good fit? Explain.
Compute the sample correlation coefficient between the price and the number of flash drives sold. Use α= 0.01 to test the relationship between price and units sold.
How many units can be sold per day if the price of flash drive is set to $28.

Price: $2.99

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Deliverable: Word Document

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(See Solution) The following data represent the number of flash drives sold per day at a local computer shop and their prices. Price Units Sold $34 3 36

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