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Situation: The Ipod Touch has been out for two years now and a lot of data...

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Question

Basic Math

Situation: The Ipod Touch has been out for twoyears now and a lot of data has been collected.

Relevant Relationship:
There is a functional relationship between Price of an IPodTouch,pp and Weekly Demand,ss.
Below is a table of data that have been collected

Price,pp,($)Weekly Demand,ss,(1,000s)
150210
170209
190199
210186
230184
250176


A.. Find the linear model that best fits this datausing regression and enter the model below
(for entry round the linear parameter value to nearest 0.01 andconstant parameter to nearest 1)
s=T(p)=s=T(p)=   

Now answer these two questions using the UNROUNDED modelparameters


B. What does the model predict will be the weeklydemand if the price of an ipod touch is $249 ?  (nearest100)

C. According to the model at what should the pricebe set in order to have a weekly demand of 189,600 ipod Touches? $(nearest $1)

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