Cafe Michigan manager Gary Sisk suspects that demand for moc

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

Using simple linear regression and given that the price per cup is 1.75, the forecasted demand for mocha latte coffees will be_______

Price Numbers Sold
2.70 765
3.50 505
2.00 980
4.30 245
3.10 325
4.10 490

Solution

The answer is 790 Units

Cafe Michigan manager Gary Sisk suspects that demand for mocha latte coffees depends on the orice being charged. Based on historical observations, Gary has gath

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