Use the given data to find a regression line that best fits the price-demand data for price p in dollars as a function of the demand x widgets. Here, price is the dependent variable, and demand is the independent variable. Find the regression function for price, and write it as p ( x )

Nowe we can find the means for x and y like this:

And we can find the intercept using this:

So the line would be given by:

Step-by-step explanation:

For this case we have the following data given:

Demand (x): 10,20,30,40,50,60,70,80,90,100

Price (y): 141 , 133,126, 128,113,97, 90, 82,79,53

We want to construct a linear model like this:

For this case we need to calculate the slope with the following formula:

Where:

So we can find the sums like this:

With these we can find the sums:

And the slope would be:

Nowe we can find the means for x and y like this:

And we can find the intercept using this:

So the line would be given by:

$450 i think. hope this ☺