A linear model fit to predict weekly Sales of frozen pizza (in pounds) from the

Question

A linear model fit to predict weekly Sales of frozen pizza (in pounds) from the average Price (S/unit) charged by a sample of stores in a city in 39 weeks over a three-year period is shown below. Complete parts a through f. Sales = 148394 - 24,142 Price What is the response variable? Sales Price What does the slope mean in this context? Price decreases by 24,142 dollars per pound. Sales increase by 24,142 pounds per dollar. Sales decrease by 24,142 pounds per dollar. Price increases by 24,142 dollars per pound. What does the y-intercept mean in this context? Is it meaningful? 148,394 pounds is a base value that is not meaningful because the price will not be $0. $148,394 is a base value that is not meaningful because the sales will not be 0 pounds. 148,394 pounds is a base value that is meaningful because the price will be $0. $148,394 is a base value that is meaningful because the sales will be 0 pounds.

Explanation / Answer

a) Sales

b) Correct Answer : Option (C)

c) Correct Answer : Option (A)

Suppose Price $0, Sales = 148,394- 24,142$price = 148,394 - 24,142(0) = 148,394 pounds

which is meaningless.

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