Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Merchandise loss due to shoplifting, damage, and other causes is called shrinkage. Shrinkage is a major concern to retailers. The managers of H.R. Merchandise think
Merchandise loss due to shoplifting, damage, and other causes is called shrinkage. Shrinkage is a major concern to retailers. The managers of H.R. Merchandise think there is a relationship between shrinkage and number of clerks on duty. To explore this relationship, a random sample of 7 weeks was selected. During each week the staffing level of sales clerks (X) was kept constant and the dollar value (Y, in hundreds of dollars) of the shrinkage was recorded. The results are summarized as follows: top enclose x = 11.143, top enclose y = 18.71, sx = 2.410, sy = 7.59, r = -0.963, SS(residual) = 24.82 In the linear regression of Y on X, y = b0 b1 x, what is the value of b0? Correct to two decimal places
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