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Sales data were collected from a small bookstore. The following is an equation for the regression line of the data. Next question Sales = 8.98
Sales data were collected from a small bookstore. The following is an equation for the regression line of the data. Next question Sales = 8.98 + 0.888 Number of Salespeople Working The assumptions and conditions for regression are met, and from technology, it is known that SE (b, ) =0.0713 and Se = 1.297. Use the data to answer parts a through c. Click the icon to view the data table. a) Find the predicted sales on a day with 500 employees working. The predicted sales on a day with 500 employees working is thousand dollars. (Round to two decimal places as needed.) b) Find the 95% prediction interval for Sales on a day with 500 employees working. The interval in thousands is (]]). (Round to two decimal places as needed.) c) Is this last interval likely to be useful? Choose the correct answer below. O A. Yes. All of the necessary assumptions and conditions for regression are met, so any prediction intervals derived from the model will provide meaningful information about the data. O B. No. There are too few data points to draw any conclusions from the prediction intervals. O C. No. Not only is the interval too wide to draw any meaningful conclusions, but extrapolationg what sales will be with 500 employees based on data with up to 19 employees is not likely to be accurate at all. O D. No. There are too many outliers for the regression model to be accurate enough to draw any meaningful conclusions. X Data table Number of Salespeople Working Sales (in $1,000's) 11 10 15 00 0 - a 19 17 11 17 14 19 16 24 17 25 19 26 x = 10.5 y = 18.3 SD(x) = 6.06 SD(y) = 5.52
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