Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5) The CEO of a local tourist agency web site would like to know whether we can predict a family's annual expenditure on recreation based

image text in transcribed
5) The CEO of a local tourist agency web site would like to know whether we can predict a family's annual expenditure on recreation based on their annual income. This information could be used to tailor marketing campaigns to certain consumer segments. A sample of 200 families was taken where the lowest annual income was $21,000 and the largest income was $305,000. Correlation of Income and Recreation = r = 0.83 The regression equation is Recreation = 950 + 0.07(Income) What is the value of the slope of the least squares regression line? O0.83 950 O 0.07 None of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

University Calculus Early Transcendentals, Multivariable

Authors: Joel R Hass, Maurice D Weir, George B Thomas Jr

2nd Edition

0321830849, 9780321830845

More Books

Students also viewed these Mathematics questions

Question

1. Why do we trust one type of information more than another?

Answered: 1 week ago