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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
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