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
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F738cb073-900d-4957-863f-a7656e9f4515%2F9b4b436b-330a-455b-8b32-e4e7096c7413%2Fsyx9y1a_processed.png&w=3840&q=75)
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F738cb073-900d-4957-863f-a7656e9f4515%2F9b4b436b-330a-455b-8b32-e4e7096c7413%2Fwjebkcf_processed.png&w=3840&q=75)
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
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