Homework Help is Here – Start Your Trial Now!
Math
Statistics
c. Predict Sales if a city has 2.0 million women over the age of 60 and their average income is $43,000. (Enter your answer in millions rounded to 2 decimal places.) Answer is complete but not entirely correct. 356.00 X Predicted Sales

c. Predict Sales if a city has 2.0 million women over the age of 60 and their average income is $43,000. (Enter your answer in millions rounded to 2 decimal places.) Answer is complete but not entirely correct. 356.00 X Predicted Sales

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
See similar textbooks
icon
Related questions
Question
Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of StrongBones, a prescription drug for treating this debilitating disease. She uses the model Sales = 60 +61 Population + 6₂Income + E, where Sales refers to the sales of StrongBones (in $ millions), Population is the number of women over the age of 60 (in millions), and Income is the average income of women over the age of 60 (in $1,000s). She collects data on 40 cities across the United States and obtains the following regression results: Coefficients 10.19 Predicted Sales Intercept Population 8.19 Income 7.58 a. What is the sample regression equation? (Enter your answers in millions rounded to 2 decimal places.) Standard t Error Stat p-Value 3.25 3.14 0.0057 1.39 5.89 0.0098 6.57 1.15 0.3691 10.19 ✔ Answer is complete and correct. 8.19✔ Population 7.58✔ Income.
Transcribed Image Text:Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of StrongBones, a prescription drug for treating this debilitating disease. She uses the model Sales = 60 +61 Population + 6₂Income + E, where Sales refers to the sales of StrongBones (in $ millions), Population is the number of women over the age of 60 (in millions), and Income is the average income of women over the age of 60 (in $1,000s). She collects data on 40 cities across the United States and obtains the following regression results: Coefficients 10.19 Predicted Sales Intercept Population 8.19 Income 7.58 a. What is the sample regression equation? (Enter your answers in millions rounded to 2 decimal places.) Standard t Error Stat p-Value 3.25 3.14 0.0057 1.39 5.89 0.0098 6.57 1.15 0.3691 10.19 ✔ Answer is complete and correct. 8.19✔ Population 7.58✔ Income.
c. Predict Sales if a city has 2.0 million women over the age of 60 and their average income is $43,000. (Enter your answer in millions rounded to 2 decimal places.) X Answer is complete but not entirely correct. Predicted Sales 356.00 X
Transcribed Image Text:c. Predict Sales if a city has 2.0 million women over the age of 60 and their average income is $43,000. (Enter your answer in millions rounded to 2 decimal places.) X Answer is complete but not entirely correct. Predicted Sales 356.00 X
Expert Solution
steps

Step by step

Solved in 3 steps with 4 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS