A grocery store is interested in how customers' income affects the amount of moneythey spend each week. A regression analysis is performed to test this analysis. Theresults of the analysis are that the intercept is $17.80 and the slope is 0.0012.Calculate the residual for a household with income of $65,000 that spends $120 perweek on groceries.$24.00$78.00$2.40$12.00$17.80

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Answered: A grocery store is interested in how…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A grocery store is interested in how customers' income affects the amount of money they spend each week. A regression analysis is performed to test this analysis. The results of the analysis are that the intercept is $17.80 and the slope is 0.0012. Based on these results, what is the predicted weekly grocery expenditure (to the nearest cent) for a household with an income of $65,000? $95.80 O$78.00 $45.23 $17.80 Ho: mean weekly expenditure = $78.00
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