Question: please explain 1. Consider the Sherwin-Williams Company example discussed in this chapter (see Tabte 4.1). Suppose one is interested in developing a simple regression model

please explain

1. Consider the Sherwin-Williams Company example discussed in this chapter (see Tabte 4.1). Suppose one is interested in developing a simple regression model with paint sales (Y) as the dependent variable and selling price (P) as the independent variable. The regression estimation and regression statistics are shown below: j): 390.376 14.263P Regression Statistics R Square 0.75 Standard Error 16.432 Observations 10 C. Based on the regression model. determine the best estimate of paint sales in a sales region where the selling price is $14.50. Construct an approximate 95 percent prediction interval. (1 point)

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