Correlation & Regression: Number of lunches sold and Price
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The fast food restaurant "FRIED CHICKEN POPEYE" periodically offers lunches that include three pieces of chicken, chips, soda and desserts can be eaten in the restaurant or take it elsewhere, special prices. Let Y be the number of lunches sold and X the price. Based on historical observations and calculations in the table below, 1) you determine the regression equation, 2) the correlation coefficient, and 3) the coefficient of determination.
How many lunches thinks "FRIED CHICKEN POPEYE" will be able to sell at $3.00 each.?
SEE TABLE IN THE ATTACHMENT.
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Solution Summary
The solution provides step by step method for the calculation of regression equation, correlation coefficient and coefficient of determination. Formula for the calculation and Interpretations of the results are also included.
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The fast food restaurant "FRIED CHICKEN POPEYE" periodically offers lunches that include three pieces of chicken, chips, soda and desserts can be eaten in the restaurant or take it elsewhere, special prices. Let Y be the number of lunches sold and X the price. Based on historical observations and calculations in the table below, 1) you determine the regression equation, 2) the correlation coefficient, and 3) the coefficient of determination.
How many lunches thinks "FRIED ...
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