Question: A baker believes that a relationship may exist between the number of customers visiting a shop and the advertised pri of her cheapest bread line.

 A baker believes that a relationship may exist between the number

of customers visiting a shop and the advertised pri of her cheapest

A baker believes that a relationship may exist between the number of customers visiting a shop and the advertised pri of her cheapest bread line. She records the number of customers for 20 days with prices varying from $3.20 to $6.30 a obtained the following regression results: COEFFICIENTS STANDARD ERROR + STAT P-VALUE Intercept 47.8 0.28 Price -10.7 0.03 SUBsquare: 0.56 Ha = Bit o ( Positive or neyurine, Standard error (of estimation): 6.2 t = ( not given) 10. [. a) Write down the regression equation to predict the number of customers. b) Predict the number of customers when the price is $4.10. P-value =0.03

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!