× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
5
o
5
4
m
4
b
4
x
4
a
4
l
4
t
4
S
4
m
3
s
3
New Topic  
Catracho Catracho
wrote...
Posts: 529
Rep: 2 0
5 years ago
THE FRESH DETERGENT CASE  Fresh
Enterprise Industries produces Fresh, a brand of liquid laundry detergent. In order to study the relationship between price and demand for the large bottle of Fresh, the company has gathered data concerning demand for Fresh over the last 30 sales periods (each sales period is four weeks). Here, for each sales period,
y = demand for the large bottle of Fresh (in hundreds of thousands of bottles) in the sales period, and
x = the difference between the average industry price (in dollars) of competitors' similar detergents and the price (in dollars) of Fresh as offered by Enterprise Industries in the sales period.

A)Find the least squares point estimates b0 and b1 on the computer output and report their values.
B)Interpret b0 and b1. Does the interpretation of b0 make practical sense?
C)Write the equation of the least squares line.
D)Use the least squares line to compute a point estimate of the mean demand in all sales periods when the price difference is .10 and a point prediction of the actual demand in an individual sales period when the price difference is .10.
Excel Data File
 Attached file 
You must login or register to gain access to this attachment.
Read 463 times
2 Replies

Related Topics

Replies
wrote...
Valued Member
Educator
5 years ago
Hi Catracho

Can you check to see if this answers your question?
 Attached file 
You must login or register to gain access to this attachment.
wrote...
3 years ago
thank you
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  849 People Browsing
Related Images
  
 320
  
 945
  
 255
Your Opinion
What's your favorite coffee beverage?
Votes: 274

Previous poll results: What's your favorite math subject?