The Ipod Touch has been out for several years now and a lot of data has been collected.

There is a functional relationship between the Price of an IPod Touch and Weekly Demand.
Below is a table of data that have been collected

Price P\displaystyle {P} ($)Weekly Demand S\displaystyle {S} (1,000s)
150211
170199
190197
210192
230180
250176

A.. Find the linear model that best fits this data using regression and enter the model below
(for entry round the slope value to nearest 0.01 and constant parameter to nearest 1)
T(p)=\displaystyle {T}{\left({p}\right)}=  

Now answer these two questions:


B.. What does the model predict will be the weekly demand if the price of an ipod touch is $151 ? (nearest 100)

C.. According to the model at what should the price be set in order to have a weekly demand of 197,200 ipod Touches? $ (nearest $1)

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