(Solution) - Debbie is president of a company that produces garbage cans -(2025 Original AI-Free Solution)

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Debbie is president of a company that produces garbage cans. The company has developed a new type of garbage can that is animal- proof, and Debbie wants to use the demand function to help set a price. She surveys ten retailers to get an approximation of how many garbage cans would be demanded at each price, and creates a table.
a. Find the equation of the linear regression line. Round the slope and y-intercept to the nearest hundredth.
b. Give the slope of the regression line and interpret the slope as a rate.
c. Find the correlation coefficient and interpret it. Round to the nearest hundredth.
d. Based on the linear regression line, how many garbage cans would be demanded at a wholesale price of $18.00? Round to the nearest hundred garbage cans.
e. Was your answer to part d an example of extrapolation or interpolation? Explain.
f. Look at your answer to part d. If the company sold that many garbage cans at $18.00, how much money would the company receive from the garbage can sales?