ASSIGNMENT NO. 3

Marketing Assignment No. 3

Marketing Assignment No. 3

Answer No. 1

Trend line

Regression Equation

quantity = a + b * price

Interpretation

The given graph relates to trend line of quantity on y-axis and price on x-axis. It is noted that the quantity demanded of the Bluebird Potato Chips is decreasing and the price of Bluebird Potato Chips is increasing, indicating inverse association between the variables. Therefore, it can be said that as the price of chips increases then the quantity demanded will decrease and vice versa, which reflects that data quantity and price follow the law of demand.

Answer No. 2

Summary Output

Regression Statistics

Multiple R

0.88

R Square

0.78

Adjusted ...