The manager of an ice cream store has developed a regression equation for estimating the number of customers on the basis of two independent variables: x1 = the high temperature (degrees Fahrenheit) for the day, and x2 = whether the day is during the weekend (coded as 1) or is a weekday (coded as 0). For the estimation equation
The manager of an ice cream store has developed a regression equation for estimating the number of customers on the basis of two independent variables: x1 = the high temperature (degrees Fahrenheit) for the day, and x2 = whether the day is during the weekend (coded as 1) or is a weekday (coded as 0). For the estimation equation ŷ = 150 + 5x1 + 50x2, interpret the partial regression coefficients, then estimate the number of customers on an 80-degree Saturday.
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Given that the estimated number of customers is 150 + 5x 1 + 50x 2 : For each ad…View the full answer
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