Situation: The Ipod Touch has been out for two years now and a lot of data has been collected (Shown in the table below).

Relevant Relationship:

There is a functional relationship between Price of an IPod Touch, $\displaystyle {p}$, (in $), and Weekly Demand , $\displaystyle {S}{\left({p}\right)}$, (in thousands).

Price,$\displaystyle {p}$,($)	Weekly Demand,$\displaystyle {S}{\left({p}\right)}$,(1,000s)
150	211
170	207
190	199
210	187
230	181
250	169

A.. Find the linear model that best fits this data using regression and enter the model below.
Note: Round the linear parameter value to nearest 0.01 and constant parameter to nearest 1. Write the answer in proper Function Notation)

Function: Preview Question 6 Part 1 of 4  

B. The squared correlation coefficient $\displaystyle {r}^{{2}}$ was Select an answer above below 0.95

(note: values less than 0.95 MAY mean the model is not appropriate for making predictions)

C. Using the function from Part A what does the model predict will be the weekly demand if the price of an ipod touch is $193 ? (Round to the nearest thousand)

The weekly demand for an ipod priced at $193 will be approximately

D. According to the model at what should the price be set in order to have a weekly demand of 201,900 ipod Touches? (Round to the nearest dollar).

To have a weekly demand of 201,900, the price of the ipod should be set at approximately $

Note: In the "real" world Apple sold about 20 million Ipod Touch's from Sept. 2007-Sept. 2009 Answer