Answered: Predict the average amount spent by a…

Name: Opinions are split about a coffee company's pumpkin-flavored coffee
Uploaded: 2024-03-20T06:38:58.000Z
Channel: Bartleby
Description: Opinions are split about a coffee company's pumpkin-flavored coffee (PFC). Yet every year over the last five years the consumption of pumpkin-flavored goods has increased. If we look at the numbers, it also becomes clear why a leading coffee comp

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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Opinions are split about a coffee company's pumpkin-flavored coffee (PFC). Yet every year over the last five years the consumption of pumpkin-flavored goods has increased. If we look at the numbers, it also becomes clear why a leading coffee company keeps offering the PFC earlier and earlier every year. According to a magazine, the amount spent by PFC buyers at the coffee company is about 17% higher than non-PFC buyers. The accompanying table shows a random sample of eight consumers, the amount they spend per week, and the number of PFCs purchased per week.

PFC	Spending
	2	13.88
	7	39.11
	4	19.79
	1	9.84
	3	15.43
	1	21.52
	5	37.39
	3	13.85

The slope is b1=4.465

The y-intercept is b0=6.840

Because the slope is positive, it can be concluded that one extra PFC purchase per week will increase the average amount of spending per week by 4.46 dollars.

Predict the average amount spent by a customer who purchases 4 PFC drinks per week.

The average amount spent by a customer who purchases 4 PFC drinks per week is

(Round to two decimal places as needed.)

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