6. % of the variation of the is explained by the multiple regression model with sales as the response and explanatory variables of median income and number of com- petitors. 7. Assume that you have narrowed down your search to 3 different locations. We will investigate several features of these 3 locations. The information on each location is presented below. . The 1st location has a median income of $53,800 and 2 competitors. . The 2nd location has a median income of $56,900 and 3 competitors. . The 3rd location has a median income of $63,000 and 5 competitors. (i) ) For each location find the predicted annual sales. location 1 location 2 location 3 (ii) Which of the 3 locations would you choose based on the predicted sales alone? (iii) For Simple Linear Regression we discussed finding the standard error for an individual response used to create a Prediction Interval (PI) for a new observation. We also discussed using JMP to find the standard error for the mean response used to create a Confidence Interval (CI) for the mean response. In multiple regression we can also use JMP to get the standard error for predicted response and the standard error for the mean response. Although the formulas going into the calculations of these standard errors are more complicated for multiple regression, the same underlying ideas apply for creating PIs for an individual