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4.31 Coffee Palace's manager, Joe Felan, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Joe has gathered the following data, which show the numbers of these coffees sold over six different price values: Price Number Sold $2.60 770 $3.60 510 $1.90 980 $4.30 245 $3.20 315 $4.05 490 Using these data, how many mocha latte coffees would be forecast to be sold according to simple linear regression if the price per cup were $1.80?
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1) What assumptions are necessary when using customer driven analytics to make managerial decisions? 2) How does the IT strategy of 7/11 influence other aspects of the business
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Discuss the breakeven point. What is the breakeven point? Why does a small business need to do a breakeven analysis?
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