18.6 Caretakers, a local nonprofit organization, operates the concession stands
ID: 3227310 • Letter: 1
Question
18.6 Caretakers, a local nonprofit organization, operates the concession stands for the Newland Baseball Park, home of the Newland Nuggets (a minor league baseball team). Doing so permits Caretakers to raise funds to operate its soup kitchen. Caretakers is concerned with waste in the concessions area. Too many precooked hot dogs are left over after a game. Heinz Canine, Caretakers’ research analyst, feels that hot dog consumption (and other concession sales) can be predicted by the number of advance sale tickets purchased for a game (attendance is usually twice advance sales). Heinz gathers the accompanying data for a sample of 10 days. Run the regression for Heinz and tell him whether his hypothesis is correct. Predict how many hot dogs will be sold if 1,000 advance tickets are sold.
Advance Sales Hot Dog Sales
Advance Sales Hot Dog Sales
247
503
317
691
1,247
2,638
784
1,347
247
602
1,106
2,493
1,749
3,502
875
2,100
963
1,947
415
927
Advance Sales Hot Dog Sales
Advance Sales Hot Dog Sales
247
503
317
691
1,247
2,638
784
1,347
247
602
1,106
2,493
1,749
3,502
875
2,100
963
1,947
415
927
Explanation / Answer
Given the table,
We know that
y = a + bx
y = na + bx
and also
xy = nx+bx^2
Substituting the above values
and solving the 2 equations
a = 62.7796, b = 2.0279
Hence the regression line equation is
y = 62.7796 + 2.0279 x
When x = 1000
we get , y = 2090.72978
Advance Sales (x) Hot Dog Sales (y) 247 503 317 691 1,247 2,638 784 1,347 247 602 1,106 2,493 1,749 3,502 875 2,100 963 1,947 415 927Related Questions
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