The following data represent the number of flash drives sold per day at a local computer shop and th
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 |
a. Develop the estimated regression equation that could be used to predict the quantity sold given the price. Interpret the slope.
b. Did the estimated regression equation provide a good fit? Explain.
c. 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.
d. How many units can be sold per day if the price of flash drive is set to $28.
Price: $2.99
Answer: The solution consists of 5 pages
Deliverable: Word Document
Deliverable: Word Document
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