Pizza sales and price. A linear model fit to predict weekly Sales of frozen pizza (in pounds)
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Pizza sales and price. A linear model fit to predict weekly Sales of frozen pizza (in pounds) from the average Price ($/unit) charged by a sample of stores in the city of Dallas in 39 recent weeks is:
a) What is the explanatory variable?
b) What is the response variable?
c) What does the slope mean in this context?
d) What does the y-intercept mean in this context? Is it meaningful?
e) What do you predict the sales to be if the average price charged was $3.50 for a pizza?
f) If the sales for a price of $3.50 turned out to be 60,000 pounds, what would the residual be?
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Related Book For 
Business Statistics
ISBN: 9780321716095
2nd Edition
Authors: Norean D. Sharpe, Paul F. Velleman, David Bock, Norean Radke Sharpe
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