Regression : Function, Correlation Coefficient and Maximizing Profit - Lemonade Stand
Response to the following :
A. Your function, and specify what the slope and intercept of your function is.
B. What this function tells you about the relationship between the price and the number of cups sold?
C. How you plan on using this function to help you maximize the profits of your lemonade stand?
data:
regression equation: y= -100x + 250
regression coefficient: r= -1
X Y Predicted value
0.25 225 225
0.5 200 200
0.75 175 175
1 150 150
1.25 125 125
1.5 100 100
1.75 75 75
2 50 50
2.25 25 25
2.5 0 0