Use the following problem to solve questions 37 38 39 and 40

Use the following problem to solve questions 37, 38, 39 and 40. Refer to the textbook page 476, Table 13.3 for data.

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

Solution

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