An online clothing retailer examined their transactional database to see if total yearly Purchases ($) were related to customere' Incomes ($). (You may assume that the assumptions and conditions for regression are met.) The least squares linear regression is shown below. Complete parts a through d. Purchases = - 33.8 + 0.019(income) a) Interpret the intercept in the linear model. Select the correct choice below and fil in the answer box to complete your choice, (Type an integer or a decimal.) OA. The intercept of indicates the predicted total yearly Purchase if a customer's Income was $0. OB. The intercept of indicates the customer Income if the predicted total yearly Purchase was S0. O C. The intercept indicates that customer Income changes by $ for every $1 increase in total yearly Purchase. OD. The intercept of is meaningless and should not be interpreted.

An online clothing retailer examined their transactional database to see if total yearly Purchases ($) were related to customere' Incomes ($). (You may assume that the assumptions and conditions for regression are met.) The least squares linear regression is shown below. Complete parts a through d. Purchases = - 33.8 + 0.019(income) a) Interpret the intercept in the linear model. Select the correct choice below and fil in the answer box to complete your choice, (Type an integer or a decimal.) OA. The intercept of indicates the predicted total yearly Purchase if a customer's Income was $0. OB. The intercept of indicates the customer Income if the predicted total yearly Purchase was S0. O C. The intercept indicates that customer Income changes by $ for every $1 increase in total yearly Purchase. OD. The intercept of is meaningless and should not be interpreted.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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