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Suppose we would like to estimate the monthly revenue for a specific small business. The dependent variable Monthly Revenue, which is measured in dollars. We
Suppose we would like to estimate the monthly revenue for a specific small business. The dependent variable Monthly Revenue, which is measured in dollars. We will use the independent variables: Temperature (measured in degrees F) Quarter (Q1, Q2, Q3, or Q4) Suppose we use the command in R: lm(Revenue ~ Temperature + Quarter, data=BronlynsData) The coefficients table from the model is given below: Variable Estimate of coefficient p-value (intercept) 7,000 Less than 0.0001 Temperature 12 Less than 0.0001 Q1 2,000 Less than 0.0001 Q2 4,000 Less than 0.0001 Q3 6,000 Less than 0.0001 For a month in Q2 where the temperature is 80 degrees F, the predicted revenue equals $_______
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