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A Small Independent Organic Food Store Offers a Variety of Specialty

Question 3

Multiple Choice

A small independent organic food store offers a variety of specialty coffees.To determine Whether price has an impact on sales, the managers kept track of how many pounds of each Variety of coffee were sold last month.
 PRICE PER POUND  POUNDS SOLD $3.9975$5.9960$7.0065$12.0045$4.5080$7.5070$15.0025$10.0035$12.5040$8.9950 Mean $8.7554.50 Standard  Deviation $3.6318.33 Correlation 0.927\begin{array} { | l | l | l | } \hline & \text { PRICE PER POUND } & \text { POUNDS SOLD } \\\hline & \$ 3.99 & 75 \\\hline & \$ 5.99 & 60 \\\hline & \$ 7.00 & 65 \\\hline & \$ 12.00 & 45 \\\hline & \$ 4.50 & 80 \\\hline & \$ 7.50 & 70 \\\hline & \$ 15.00 & 25 \\\hline & \$ 10.00 & 35 \\\hline & \$ 12.50 & 40 \\\hline & \$ 8.99 & 50\\\hline & \\\hline \text { Mean } &\$8.75&54.50 \\\hline \begin{array} { l } \text { Standard } \\\text { Deviation }\end{array} & \$ 3.63 & 18.33 \\\hline \text { Correlation } & - \mathbf { 0 . 9 2 7 } \\\hline\end{array}

Based on the data and summary statistics, the intercept of the estimated regression line that Relates the response variable (monthly sales) to the predictor variable (price per pound) is


A) 95.459.
B) .858.
C) -4.684.
D) -.858.
E) -8.999.

Correct Answer:

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