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Cafe Michigan's manager, Gary Stark, suspects that demand for mocha latte depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these cofees sold over six different price values:

price                           # sold

$2.50                           760

$3.50                           515

$1.90                           990

$4.20                           240

$3.10                           320

$4.00                           490

using the data, how many mochoa latte coffees would be forecasted to be sold according to simple linear regression if the price per cup were $1.85? ______ Cups (enter your response rounded to one decimal place)

Please show me how to work this problem.

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M91955486

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