I need an answer for Part C. The data below represent the reported and audited n

Question

I need an answer for Part C.

The data below represent the reported and audited newsstand sales (in thousands) in one year for 10 magazines. Complete through below. Construct a scatter plot. Choose the correct graph below. For these data, b_0 = 24.608 and b_1 = 0.5754. Interpret the meaning of the slope, b_1. Choose the correct answer below. The slope, b_1 = 0.5754, implied that the average reported newsstand sales is about 0.5754 thousands. A correlation of b_1 = 0.5754 indicates a moderate linear relationship between the variables. The slope, b_1 = 0.5754 indicates a moderate linear relationship between the variables. The slope, b_1 = 0.5754, implies that for each increase of 1,000 in the reported newsstand sales of a magazine, the audited newsstand sales are expected to increase by about 0.5754 thousands. The slope, b_1 = 0.5754, implies that for each increase of 1,000 in the reported newsstand sales of a magazine, the audited newsstand sales are expected to decrease by about 0.5754 thousands. Predict the mean audited newsstand sales for a magazine that reports newsstand sales of 400,000. Recall that b_0 = 24.608 and b_1 = 0.5754.

Explanation / Answer

As

y^ = 24.608 + 0.5754x

Then if x = 400 [as the sales is 400 000, and x is in thousands]

y^ = 24.608 + 0.5754*400 = 254.768 thousand = 255 thousand [ANSWER]

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