You own a bakery and decide to compare your weeklyflour consumptionin pounds (x - input variable) and thesalesyou make in dollars (y -output variable) each week. You enter your raw data into Excel and run a simple linear regression. Below are your summary output results.

ReferencingFigure 1 Excel summary outputshown, predict sales based on consuming 5000 lbs. of flour.

Summary Output Regression Statistics Multiple R 0.7021 R Square 0.4929 Adjusted R Square 0.5120 Standard Error 24.1940 Observations 10 ANOVA df SS MS F Significance F Regression 6129.716 6129.716 10.472 0.012 Residual 8 4682.784 585.348 Total 9 10812.500 Co- Standard t Stat P-value Lower Upper Lower Upper efficients Error 95% 95% 95.0% 95.0% Intercept -245.42 113.65 -1.89 0.10 -476.54 47.63 476.54 47.63 X Variable 1 2.65 1.71 3.24 0.01 1.59 9.48 1.59 9.48