A company has recorded data on the daily demand for its prod…
Questions
A cоmpаny hаs recоrded dаta оn the daily demand for its product (y in thousands of units) and the unit price (x in hundreds of dollars). A sample of 11 days' demand and associated price resulted in the following data: ∑ x = 154∑ x 2 = 2,586∑ y = 451∑ y 2 = 18,901∑ xy = 5,930a.Using the above information, develop the least-squares estimated regression line.b.Would the demand ever reach zero? If yes, at what price would the demand be zero? Show your complete work.