Data from a small bookstore are shown m the accompanying table. The manager want
ID: 3172604 • Letter: D
Question
Data from a small bookstore are shown m the accompanying table. The manager wants to predict Sales from Number of Sales People Working. Complete parts a through h below. Fine the slope estimate, b_1. b_1 = What does b_1 mean, in this context? Select the correct choice below and fill in the answer box to complete your choice. On average, $ is expected when 0 sales people are working. An additional $ of sales is associated with each additional sales person working. Find the intercept, b_0. b_0 = What does b_0 mean in this context? Is it meaningful? Select the correct choice below and fill in the answer box to complete your choice. On average, $ is expected when 0 sales people are working. It is meaningful in this context. An additional $ of sales is associated with each additional sales person working. It is meaningful in this context. On average, $ is expected when 0 sales people are working. It is not meaningful because it does not make sense in this context. An additional $ of sales is associated with each additional sales person working. It is not meaningful because it does not make sense in this context. Write the equation that predicts Sales from Number of Sales People Working. Cap Sales + - (Number of Sales People Working) If 18 people are working, what Sales do you predict? The predicted sales for 18 people working is dollars. If sales are actually $23,000, what is the value of the residual? The value of the residual is dollars. Have the sales been overestimated or underestimated? overestimated underestimatedExplanation / Answer
a) the slope is 0.837
b) A
c) 9.431
d) A
e) sales=9.431+(0.837)*( number of sale persons)
f) 25
g) 5.2
h) under estimated
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