Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A division of a multinational retail company prepared a presentation to give at the home ofce in Paris, France. The presentation includes a scatterplot that

image text in transcribed
A division of a multinational retail company prepared a presentation to give at the home ofce in Paris, France. The presentation includes a scatterplot that shows the relationship between square footage and annual sales in retail outlets owned by the chain. The units in the plot show the size in thousands of square feet and the response in thousands of dollars. Atted line in the plot is y = 37 + 616x. Complete parts a through d below. .V C- The intercept of 37 thousand dollars is likely an extrapolation and not directly interpretable. D- The intercept is thousand dollars per square foot. For every one square foot increase, average annual sales increase by thousand dollars. What is the correct interpretation of the slope? Select the correct choice below and ll in the answer box(es) to complete your choice. A- The slope of thousand dollars is the cost of a room with 0 square feet. - The slope is $ 616 per square foot. For every one square foot increase, average annual sales increase by $ 616 . C- The slope of $ per square foot is likely an extrapolation and not directly interpretable. D- The slope is $ per thousand square feet. For every thousand square feet increase, average annual sales increase by $ (b) To present the model in Europe, the plot must be shown with sales denominated in euros rather than dollars (use the exchange rate $1 = 0.82) and size given in square meters rather than square feet (1 square foot = 0.093 square meter). Find the slope and intercept in these new units. The new slope is 5,431' euros per square meter. (Round to the nearest whole number as needed.) The new intercept is :l thousand euros. (Round to two decimal places as needed.)

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

Essays In Our Changing Order

Authors: Thorstein Veblen

1st Edition

1351311425, 9781351311427

More Books

Students also viewed these Economics questions

Question

2. Talk to other teachers or parents about ideas for reinforcers.

Answered: 1 week ago