6. In a university town, the sales (in thousands of pounds) of coffee shops were thoughtto be related to the student population (in thousands) in their neighbourhoods. Thefigures for a random sample of 10 coffee shops are recorded, and are shown in thefollowing table:6 8 | 858 105 88 118 117 137 157 169 149 20220 22Student population (in 000s) 2Sales (in £000s)12162026Computer output from the regression of sales on student population is:PredictorConstantStudent populationCoefficient Std error t-ratio9.22600.580360.005.00p-value0.00026.50338.6167 2.55 x 10-5S = 13.8293R-sq = 90.27%R = 0.9501(a) Interpret R= 0.9501 from the above computer output.(b) Write down the equation of the estimated regression line.(c) What conclusion can you draw about the connection between the two variables?(d) Would it be advisable to use this regression model to predict coffee shop salesfor a university town with 35,000 students? Explain your answer.(e) Suggest an alternative independent variable to explain coffee shop sales, brieflyjustifying your choice.

The provided information is The provided computer output is given below: Predictor Coefficient…

Answered: Predictor Constant Coefficient Std…

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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Predictor Constant Coefficient Std error t-ratio 9.2260 6.5033 0.5803 8.6167 2.55 x 10- 60.00 5.00 p-value 0.0002 Student population S = 13.8293 R-sq = 90.27% R = 0.9501 (a) Interpret R 0.9501 from the above computer output. (b) Write down the equation of the estimated regression line.