A quadratic regression was fitted to the data. Parts of the computer output appear below. Predictor Coef Stdev t-ratio Constant 7990.0 724.7 11.03 0.000 price -10660 1151 -9.26 0.000 price2 3522.3...

A quadratic regression was fitted to the data. Parts of the computer output<br>appear below.<br>Predictor<br>Coef<br>Stdev<br>t-ratio<br>Constant<br>7990.0<br>724.7<br>11.03<br>0.000<br>price<br>-10660<br>1151<br>-9.26<br>0.000<br>price2<br>3522.3<br>436.8<br>0.000<br>Analysis of Variance<br>SOURCE<br>DF<br>SS<br>MS<br>P.<br>Regression<br>16060569<br>8030284<br>125.11<br>0.000<br>Error<br>60<br>3851231<br>64187<br>Total<br>62<br>19911800<br>a) Write the appropriate model for the abovedata (3 marks)<br>b) According to this model, how many units will be sold, on average, when the<br>price of the beverage is $1.10? (2 marks)<br>

Extracted text: A quadratic regression was fitted to the data. Parts of the computer output appear below. Predictor Coef Stdev t-ratio Constant 7990.0 724.7 11.03 0.000 price -10660 1151 -9.26 0.000 price2 3522.3 436.8 0.000 Analysis of Variance SOURCE DF SS MS P. Regression 16060569 8030284 125.11 0.000 Error 60 3851231 64187 Total 62 19911800 a) Write the appropriate model for the abovedata (3 marks) b) According to this model, how many units will be sold, on average, when the price of the beverage is $1.10? (2 marks)

Jun 10, 2022

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A quadratic regression was fitted to the data. Parts of the computer output appear below. Predictor Coef Stdev t-ratio Constant 7990.0 724.7 11.03 0.000 price -10660 1151 -9.26 0.000 price2 3522.3...

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