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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

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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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 ($/Gallon) Xi 15 13.5 16.5 14.5 17 16 13 18 12 15.5 151 Sales (x 1000 Gal) Yi 160 220 140 190 120 160 210 150 200 190 1,740 Regression Parameters Estimations Slope (B) Intercept (a) xiyi 2,400 2,970 2,310 2,755 2,040 2,560 2,730 2,700 2,400 2,945 x;² 225 182.25 272.25 210.25 289 256 169 324 144 240.25 2,312 In words, for a dollar increase in the selling price, the expected sales will yi² 25,600 48,400 19,600 36,100 14,400 25,600 44,100 22,500 40,000 36,100 by gallons in a given sales region.
Transcribed Image Text:Suppose the Sherwin-Williams Company is interested in developing a simple regression model with paint sales (Y) as the dependent variable and selling price (P) as the independent variable. Complete the following worksheet and then use it to determine the estimated regression line. Sales Region i 1 2 3 4 5 6 7 8 9 10 Total Selling Price ($/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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