Mathematics, 19.04.2021 15:20 bonetanne7171
A regression equation has been developed in order to help predict the amount of sales made in a clothing store each day (y) based on the number of square feet covered by the store's floor space (x). A sample of 100 similar clothing stores is collected, with floor spaces ranging from 100 square feet to 300 square feet. For each store, the floor space (in square feet) and the amount of sales made that day (in dollars) are recorded. The following regression equation is calculated:
y^ = 2,050 + 54x
Select whether or not each of the following conclusions are correct from the regression analysis: Fill in blank with ither response :Correct or Not correct
a. If the floor space of a store were to increase by one square foot, the predicted increase in sales would be $2,050.
b. If a store has a floor space of 75 square feet, the predicted sales in a day is $6,100.
c. If a store has a floor space of 175 square feet, the predicted sales in a day is $11,500.
Answers: 1
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A regression equation has been developed in order to help predict the amount of sales made in a clot...
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