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QUESTION Quality Beverages, a non-liquor wholesaler incorporated in Washington, is interested in assessing the effect of the price of a premium juice on the quantity sold. The results in the table below on price, in dollars, and sales, in cases, were obtained from a sample of eight weeks of sales records. Price, x Sales, y 19 20 24 21 18 19 17 27 12 14 18 13 10 15 29 25 a) Draw a scatter diagram of the given data on graph paper and comment on the relationship between the price and sales. b) Find the equation of the estimated least squares regression line of y = a + bx and plot the line on the same graph as the scatter diagram. c) Interpret the values of a and b in your estimated least squares regression line. d) Compute the correlation coefficient and the coefficient of determination. Comment on your results. e) Estimate the sales when the price is i. 16. ii. 33. Comment on the reliability of the estimates.

QUESTION Quality Beverages, a non-liquor wholesaler incorporated in Washington, is interested in assessing the effect of the price of a premium juice on the quantity sold. The results in the table below on price, in dollars, and sales, in cases, were obtained from a sample of eight weeks of sales records. Price, x Sales, y 19 20 24 21 18 19 17 27 12 14 18 13 10 15 29 25 a) Draw a scatter diagram of the given data on graph paper and comment on the relationship between the price and sales. b) Find the equation of the estimated least squares regression line of y = a + bx and plot the line on the same graph as the scatter diagram. c) Interpret the values of a and b in your estimated least squares regression line. d) Compute the correlation coefficient and the coefficient of determination. Comment on your results. e) Estimate the sales when the price is i. 16. ii. 33. Comment on the reliability of the estimates.

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter9: Solving Quadratic Functions
Section: Chapter Questions
Problem 4CA
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QUESTION Quality Beverages, a non-liquor wholesaler incorporated in Washington, is interested in assessing the effect of the price of a premium juice on the quantity sold. The results in the table below on price, in dollars, and sales, in cases, were obtained from a sample of eight weeks of sales records. Price, x Sales, y 19 20 24 21 18 19 17 27 12 14 18 13 10 15 29 25 a) Draw a scatter diagram of the given data on graph paper and comment on the relationship between the price and sales. b) Find the equation of the estimated least squares regression line of y = a + bx and plot the line on the same graph as the scatter diagram. c) Interpret the values of a and b in your estimated least squares regression line. d) Compute the correlation coefficient and the coefficient of determination. Comment on your results. e) Estimate the sales when the price is i. 16. ii. 33. Comment on the reliability of the estimates.
Transcribed Image Text:QUESTION Quality Beverages, a non-liquor wholesaler incorporated in Washington, is interested in assessing the effect of the price of a premium juice on the quantity sold. The results in the table below on price, in dollars, and sales, in cases, were obtained from a sample of eight weeks of sales records. Price, x Sales, y 19 20 24 21 18 19 17 27 12 14 18 13 10 15 29 25 a) Draw a scatter diagram of the given data on graph paper and comment on the relationship between the price and sales. b) Find the equation of the estimated least squares regression line of y = a + bx and plot the line on the same graph as the scatter diagram. c) Interpret the values of a and b in your estimated least squares regression line. d) Compute the correlation coefficient and the coefficient of determination. Comment on your results. e) Estimate the sales when the price is i. 16. ii. 33. Comment on the reliability of the estimates.
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