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Step by step and clear please Question 3 ([2 + 2] + 2 + 2 = 8 marks) (a) Bob's Wood-Fire Pizza owner believes that

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Question 3 ([2 + 2] + 2 + 2 = 8 marks) (a) Bob's Wood-Fire Pizza owner believes that the annual sales revenue is related to the size of the student population at a nearby campus. To evaluate the relationship between student population (x) and annual sales (y), Bob collected data from a sample of ten of his restaurants located near university campuses. The data is summarised in the following table. Restaurant 2 3 4 5 6 7 8 10 Student Population (1000's) - x. 2 6 8 8 12 16 20 20 22 26 Annual Sales ($'000) - y 58 105 88 118 117 137 157 169 149 202 You may use the following Excel print-outs or summary statistics provided to answer the questions SUMMARY OUTPUT SUMMARY STATISTICS Regression Statistics n= 10 Multiple R 0.950 X = 14 R Square 0.903 y= 130 Adjusted R Square 0.891 63.111 Standard Error 13.829 $3 = 1747.778 Observations 10 Sxy = 315.556 Coefficients Standard Error t Stat P-value Intercept 60.0 9.226 6.503 0.000 Student population 5.0 0.580 8.617 0.000 (1) Determine the least squares regression line to predict the annual sales from student population. (ii) Use your fitted regression line to predict the annual sales for a restaurant located near a university campus with a student population of 10,000

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