Complete the following worksheet and then use it to determine the estimated regression line. Sales Region i 1 2 3 4 5 Selling Price ($/Gallon) Xi 15 13.5 16.5 14.5 17 Sales (x 1000 Gal) Yi 160 220 140 190 120 xiyi 2,400 2,970 2,310 2,755 2,040 x;2 225 182.25 272.25 210.25 289 y₁² 25,600 48,400 19,600 36,100 14,400
Complete the following worksheet and then use it to determine the estimated regression line. Sales Region i 1 2 3 4 5 Selling Price ($/Gallon) Xi 15 13.5 16.5 14.5 17 Sales (x 1000 Gal) Yi 160 220 140 190 120 xiyi 2,400 2,970 2,310 2,755 2,040 x;2 225 182.25 272.25 210.25 289 y₁² 25,600 48,400 19,600 36,100 14,400
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Problem 1P
Related questions
Question
![Suppose the Sherwin-Williams Company is interested in developing a simple regression model with paint sales (Y) as the dependent variable and
selling price (P) as the independent variable.
Complete the following worksheet and then use it to determine the estimated regression line.
Sales Region
i
1
2
3
4
5
6
7
8
9
10
Total
Selling Price
($/Gallon)
Xi
15
13.5
16.5
14.5
17
16
13
18
12
15.5
151
Sales
(x 1000 Gal)
Yi
160
220
140
190
120
160
210
150
200
190
1,740
Regression Parameters Estimations
Slope (B)
Intercept (a)
xiyi
2,400
2,970
2,310
2,755
2,040
2,560
2,730
2,700
2,400
2,945
x;²
225
182.25
272.25
210.25
289
256
169
324
144
240.25
2,312
In words, for a dollar increase in the selling price, the expected sales will
yi²
25,600
48,400
19,600
36,100
14,400
25,600
44,100
22,500
40,000
36,100
by
gallons in a given sales region.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fea38d0ac-9611-4a4c-939b-cf710210a9df%2F39d5555a-09a2-4e8f-a553-3d525702a994%2Fcsw436_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose the Sherwin-Williams Company is interested in developing a simple regression model with paint sales (Y) as the dependent variable and
selling price (P) as the independent variable.
Complete the following worksheet and then use it to determine the estimated regression line.
Sales Region
i
1
2
3
4
5
6
7
8
9
10
Total
Selling Price
($/Gallon)
Xi
15
13.5
16.5
14.5
17
16
13
18
12
15.5
151
Sales
(x 1000 Gal)
Yi
160
220
140
190
120
160
210
150
200
190
1,740
Regression Parameters Estimations
Slope (B)
Intercept (a)
xiyi
2,400
2,970
2,310
2,755
2,040
2,560
2,730
2,700
2,400
2,945
x;²
225
182.25
272.25
210.25
289
256
169
324
144
240.25
2,312
In words, for a dollar increase in the selling price, the expected sales will
yi²
25,600
48,400
19,600
36,100
14,400
25,600
44,100
22,500
40,000
36,100
by
gallons in a given sales region.
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