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A small theater company has a linear regression model to estimate y = the concession stand sales in dollars, based on knowing x = the number of people in attendance.  The regression equation is:   = 6.72x + 11.50  and the correlation coefficient was r = 0.781.  The data set saw the number of people in attendance ranging from a minimum of 18 people to a maximum of 170 people. 1) Interpret the slope of the regression equation in the context of the problem. If it would make sense, interpret the y-intercept and if it doesn’t make sense to do that say why.

A small theater company has a linear regression model to estimate y = the concession stand sales in dollars, based on knowing x = the number of people in attendance.  The regression equation is:   = 6.72x + 11.50  and the correlation coefficient was r = 0.781.  The data set saw the number of people in attendance ranging from a minimum of 18 people to a maximum of 170 people. 1) Interpret the slope of the regression equation in the context of the problem. If it would make sense, interpret the y-intercept and if it doesn’t make sense to do that say why.

MATLAB: An Introduction with Applications
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 small theater company has a linear regression model to estimate y = the concession stand sales in dollars, based on knowing x = the number of people in attendance.  The regression equation is:   = 6.72x + 11.50  and the correlation coefficient was r = 0.781.  The data set saw the number of people in attendance ranging from a minimum of 18 people to a maximum of 170 people.

1) Interpret the slope of the regression equation in the context of the problem. If it would make sense, interpret the y-intercept and if it doesn’t make sense to do that say why.

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