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    Regression : Function, Correlation Coefficient and Maximizing Profit - Lemonade Stand

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    A. Your function, and specify what the slope and intercept of your function is.

    B. What this function tells you about the relationship between the price and the number of cups sold?

    C. How you plan on using this function to help you maximize the profits of your lemonade stand?

    data:
    regression equation: y= -100x + 250
    regression coefficient: r= -1

    X Y Predicted value
    0.25 225 225
    0.5 200 200
    0.75 175 175
    1 150 150
    1.25 125 125
    1.5 100 100
    1.75 75 75
    2 50 50
    2.25 25 25
    2.5 0 0

    © BrainMass Inc. brainmass.com October 9, 2019, 4:52 pm ad1c9bdddf
    https://brainmass.com/math/interpolation-extrapolation-and-regression/regression-function-correlation-coefficient-maximizing-profit-42952

    Solution Preview

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    A. Your function, and specify what the slope and intercept of your function is.

    Solution. By the given information, we know that the regression equation is
    y= -100x + 250
    So, the slope is k=-100, and the ...

    Solution Summary

    A Function, Correlation Coefficient and Maximizing Profit for a lemonade stand are investigated. The solution is detailed and well presented.

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