Question
Select the appropriate interpretation for the slope of the linear regression equation below. Y (Dependent Variable) = Cost of an annual pass to Disney in
Select the appropriate interpretation for the slope of the linear regression equation below.
Y (Dependent Variable) = Cost of an annual pass to Disney in dollars
X (Independent Variable) = Average number of people who visit each day in thousands of people
yhat = 2122.86 - 30*X
a) For every 1 thousand more people on average who visit Disney each day then the price of an annual pass will increase on average by 30 dollars
b) There is not enough information to answer this question
c) For every 1 dollar more that a Disney annual pass costs then on average the daily attendanceat the park has decreased by 30 thousand people.
d) The independent variable does not have a significant influence on the dependent variable
e) For every 1 thousand more people on average who visit Disney each day then the price of an annual pass will decrease on average by 30 dollars
f) For every 1 dollar less that a Disney annual pass costs then on average the daily attendance at the park has increased by 30 thousand people.
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