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Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of StrongBones, a prescription

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Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of StrongBones, a prescription drug for treating this debilitating disease She uses the model sales - Population + 02 Income + where Sales refers to the sales of StrongBones (in $ millions), Population is the number of women over the age of 60 (in millions), and Income is the average income of women over the age of 60 (in $1.000s). She collects data on 36 cities across the United States and obtains the following regression results Intercept Population Thcote Coefficients 10.23 8.19 7.46 Standard Error 3.91 2.36 6.49 t Stat 2.62 3.47 1.15 P-Value 0.0186 0.8403 0.3691 a. What is the sample regression equation? (Enter your answers in millions rounded to 2 decimal places.) Predicted Sales Population Income b-1. Interpret the coefficient of population As the number of women over the age of 60 increases by 1 million, sales of StrongBones is predicted to increase by $819 million As the number of women over the age of 60 increases by 1 million, sales of StrongBones is predicted to increase by 57.46 million As the number of women over the age of 60 increases by 1 million, sales of StrongBones is predicted to increase by $8.19 million, holding income constant. O As the number of women over the age of 60 increases by 1 million, sales of StrongBones is predicted to increase by 5746 million, holding income constant b-2. Interpret the coefficient of income As the average income of women over the age of 60 increases by $1,000, sales of StrongBones is predicted to increase by $8.19 million As the average income of women over the age of 60 increases by $1,000, sales of StrongBones is predicted to increase by $7.46 million, As the average income of women over the age of 60 increases by $1000, sales of StrongBones is predicted to increase by $8.19 million, holding population constant O As the average income of women over the age of 60 increases by $1000. sales of StrongBones is predicted to increase by $746 million holding population constant c. Predict Sales if a city has 10 million women over the age of 60 and their average income is $38,000 (Enter your answer in millions rounded to 2 decimal places.) Predicted Sales

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