eferencing Figure 1 Excel summary output: redict sales based on consuming 5000 l

Question

eferencing Figure 1 Excel summary output: redict sales based on consuming 5000 lbs. of flour. Summary Output Regression Statistics 0.7021 0.4929 Multiple R R Square Adjusted R Square Standard Error 24.1940 Observations 0.5120 10 ANOVA df SS MS F Significance Regression 6129.716 6129.716 10.4720.012 9 10812.500 Co- Standard tStat P-value Residual 8 4682.784 585.348 Total Lower Upper Lower Upper % 95.0% 95.0% efficients Error Intercept -245.42 113.65 1.89 0.10-476.54 47.63 476.54 47.63 XVariable 1 2.65 1.71 3.24 0.01 1.59 9.48 1.59 9.48 Select one: a. $13,004.58 b. Not enough information to determine sales. c. $1,079.58 d. $1,979.40

Explanation / Answer

The regression equation is

Y = -245.42 + 2.65 X1

Y = -245.4 + ( 2.65*5000)

Y = $ 13, 004.58

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