Question
A clothing company is interested in the relationship between the number of sales per month for its employees (y) and price. Based on the collected
A clothing company is interested in the relationship between the number of sales per month for its employees (y) and price. Based on the collected data, the least-squares regression line is = 9.74 + 4.89x, where x is the number of dollars by which price exceeds $25. Which of the following statementsbestdescribes the meaning of the slope of the least-squares regression line?
A) For each increase in price of $1, the estimated number of sales per month increases by 4.89.
B) For each increase in price of $1, the estimated number of sales per month increases by 9.74.
C) For each increase of one sale per month, there is an estimated increase in price of $4.89.
D) For each increase of one sale per month, there is an estimated increase in price of $9.74.
E) The slope has no meaning because the units of measure for x and y are not the same.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started