Business, 03.11.2020 17:20 kaylesparks2
A golf club manufacturer is trying to determine how the price of a set of clubs affects the demand for clubs. The file P10_50.xlsx contains the price of a set of clubs and the monthly sales. a. Assume the only factor influencing monthly sales is price. Fit the following three curves to these data: linear (Y = a + bX), exponential (Y = abX), and multiplicative (Y = aXb ). Which equation fits the data best? Exponential b. Interpret your best-fitting equation. Round your answer to one decimal place, if necessary. The coefficient of Price implies that as price increases by $1, Demand tend to
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