I tried to figure out how I can analyze this project. To find out how to analyze relationships between prices and quantities. I think with only two variables you can't build models.
For example, one pencil company sells
100 pencils for 10 dollars, 200 for $15, 300 for $30, 400 for $35, etc/
How can you analyse this relationship in R?
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Best Answer
Assuming that the relationship is linear, you could do:
quantity <- c(100,200,300,400) price <- c(10,15,30,35) plot(quantity~price) fit <- lm(quantity~price) abline(fit) summary(fit) Similar Posts:
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