79. Let y sales at a fast-food outlet ($1000 s), x1 number of competing outlets...
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79. Let y sales at a fast-food outlet ($1000 s), x1
number of competing outlets within a 1-mile radius, x2 population within a 1-mile radius (1000 s of people), and x3 be an indicator variable that equals 1 if the outlet has a drive-up window and 0 otherwise.
Suppose that the true regression model is
a. What is the mean value of sales when the number of competing outlets is 2, there are 8000 people within a 1-mile radius, and the outlet has a drive-up window?
b. What is the mean value of sales for an outlet without a drive-up window that has three com-
Y 10.00 1.2x1 6.8x2 15.3x3 e peting outlets and 5000 people within a 1-mile radius?
c. Interpret b3.
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Related Book For
Modern Mathematical Statistics With Applications
ISBN: 9780534404734
1st Edition
Authors: Jay L Devore
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