The product development group has provided data to estimate the demand for the new device and is recommending a price of $375 as it is introduced into the market.
As the data was gathered it was believed there would be value in analyzing the data in both a linear and log-linear format. Regress both of the data sets and outline the processes you would recommend to evaluate the proposed project. How to determine whether the proposed price is appropriate?
What else need to analyze to make a recommendation as to whether the company should proceed, withdraw, or make needed revisions before continuing with the project.