The bookstore in Exercise 5 decides to have a gala event in an attempt to drum up
Question:
The bookstore in Exercise 5 decides to have a gala event in an attempt to drum up business. They hire 100 employees for the day and bring in a total of $42,000.
a) Find the regression line predicting Sales from Number of people working with the new point added.
b) What has changed from the original regression equation?
c) Is the new point a high leverage point or an influential point?
d) Does the new point have a large residual? Explain.
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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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