Purchase Solution

Simple linear regression

Not what you're looking for?

Ask Custom Question

A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:

(see table in attached file)

Referring to the table if the price of the candy bar is set at $2, the predicted sales will be

a. 30
b. 65
c. 90
d. 100

Purchase this Solution

Solution Summary

Solution calculate predicted sales if the price of the candy bar is set at $2.

Solution Preview


Please see the attached files for all the details. Also for posting number 89009, by ...

Purchase this Solution

Free BrainMass Quizzes
Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.