Solve for the y-intercept and the slope. Form the equation of the regression line that describes the relationship between the two variables. Predict the profit of the fashion boutique business when the store measures 3,800 square feet. Explain the result. nху-yr=212-x² -Enn(8x3781)-(212x129)V[(8x6246)-(212)²] [(8×2313)-(129)²]29005024x1863=0.948 FORECASTING - Linear RegressionGeneral instruction: Solve the following problem as directed. Show your solutions. All computedvalues should be reunded off to three decimal places. Show your answers clearly.Lizzie wants to open a fashion boutique business. Before selecting a location, shewould like to be able to predict the profit in pesos that the store maybe expected to earn perhundred square feet of selling space. She gathers the following data:

Answered: Image /qna-images/answer/eb7da069-b088-430a-a517-c13909b961ae.jpg

Answered: Solve for the y-intercept and the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Related questions

Concept explainers

Question

Solve for the y-intercept and the slope.
Form the equation of the regression line that describes the relationship between the two variables.
Predict the profit of the fashion boutique business when the store measures 3,800 square feet. Explain the result.

n
ху-
y
r=
21
2-
x² -E
n
n
(8x3781)-(212x129)
V[(8x6246)-(212)²] [(8×2313)-(129)²]
2900
5024x1863
=0.948

FORECASTING - Linear Regression
General instruction: Solve the following problem as directed. Show your solutions. All computed
values should be reunded off to three decimal places. Show your answers clearly.
Lizzie wants to open a fashion boutique business. Before selecting a location, she
would like to be able to predict the profit in pesos that the store maybe expected to earn per
hundred square feet of selling space. She gathers the following data:

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.

Similar questions