Stats assignment
Question # 00002282
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Updated on: 10/13/2013 04:14 PM Due on: 10/15/2013
Coffee Palace s manager, Joe Felan, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Joe has gathered the following data, which show the numbers of these coffees sold over six different price values: Price / Number Sold. $2.70 / 760, $3.50 / 510, $2.00 / 980, $4.20 / 250, $3.10 / 320, $4.05 / 480. Using these data, how many mocha latte coffees would forecast to be sold according to simple linear regression if the price per cup were $2.80? (Answer in Excel)
Additional Requirements
Other Requirements: Answer in Excel only please.
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Solution: Stats assignment