Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose a pizza parlor chain has several locations, and each location is near a college campus. The sales (in thousands of dollars) are plotted against

Suppose a pizza parlor chain has several locations, and each location is near a college campus. The sales (in thousands of dollars) are plotted against the size of the student population at the campus (in thousands of students) at each store for the last quarter. Each store is represented by one point in the plot, and the points roughly follow a straight line. Additionally: Last quarter's sales per store: average = $174,000, SD = $37226 Last quarter's student population at neighboring campus: average = 10,500, SD = 5464 correlation coefficient = 0.88 What is the regression method estimate for the average sales (to the nearest dollar) at one of these pizza parlors near a campus with 8,000 students

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Algebra Graphs and Models

Authors: Marvin L. Bittinger, Judith A. Beecher, David J. Ellenbogen, Judith A. Penna

5th edition

321845404, 978-0321791009, 321791002, 978-0321783950, 321783956, 978-0321845405

More Books

Students also viewed these Mathematics questions

Question

What are the two columns labeled in a TV script? LO.1

Answered: 1 week ago

Question

=+c) Does this model improve on the model in Exercise 18? Explain.

Answered: 1 week ago

Question

Socialize infrequently with colleagues outside of work

Answered: 1 week ago

Question

Spend less time in group decision making

Answered: 1 week ago

Question

Emphasize opportunities and choices

Answered: 1 week ago