Recall the data we saw in Chapter 6, exercise 3 for a bookstore. The manager wants to
Question:
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a) Find the slope estimate, b1.
b) What does it mean, in this context?
c) Find the intercept, b0.
d) What does it mean, in this context? Is it meaningful?
e) Write down the equation that predicts Sales from Number of Sales People Working.
f) If 18 people are working, what Sales do you predict?
g) If sales are actually $25,000, what is the value of the residual?
h) Have we overestimated or underestimated the sales?
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a The slope of the line of best fit b 1 is 0914 When using technology the slope is 0913 When calcula...View the full answer
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Related Book For 
Stats Data and Models
ISBN: 978-0321986498
4th edition
Authors: Richard D. De Veaux, Paul D. Velleman, David E. Bock
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