The following estimated regression equation has been proposed to predict sales at a fast food outlet.ŷ = 16 - 4x₁ + 8x₂ + 14x3wherefl1X1= the number of competitors within 1 milethe population within 1 mile (in 1,000s)X3= 1 if drive-up windows are present; 0 otherwiseŷ = estimated sales (in $1,000s)X2(a) What is the interpretation of 14 (the coefficient of x3) in the regression equation? (Give the answer in dollars.)Sales in dollars at outlets withdrive-up windows are on average $ 14?www.comm(b) Predict sales for an outlet with 3 competitors within one mile, a population of 14,000 within one mile, and one drive-up window (give the answer in dollars).$130Need Help? Read It(c) Predict sales for an outlet with 3 competitors within one mile, a population of 14,000 within one mile, and no drive-up window (give the answer in dollars).$112004f2@2f3#*3f41/7HT$4f540doO5f64-^6f7♫+C&f87IAAXhigher than those withoutⒸ*f9Dhp8OKINf10EFINOf11drive-up windows.21f12.insertprt sc+

Given The equation is as follows: y^=16-4x1+8x2+14x3wherex1=the number of competitors within 1…

The following estimated regression equation has been proposed to predict sales at a fast food outlet. ý = 16 - 4x₁ + 8x₂ + 14x3 where x₁ = the number of competitors within 1 mile. x₂ = the population within 1 mile (in 1,000s) X3 = 1 if drive-up windows are present; 0 otherwise ŷ = estimated sales (in $1,000s) (a) What is the interpretation of 14 (the coefficient of x3) in the regression equation? (Give the answer in dollars.) Sales in dollars at outlets with drive-up windows are on average $ 14 X higher than those without (b) Predict sales for an outlet with 3 competitors within one mile, a population of 14,000 within one mile, and one drive-up window (give the answer in dollars). $130 X Need Help? drive-up windows. (c) Predict sales for an outlet with 3 competitors within one mile, a population of 14,000 within one mile, and no drive-up window (give the answer in dollars). $112004 X Read It

The following estimated regression equation has been proposed to predict sales at a fast food outlet. ý = 16 - 4x₁ + 8x₂ + 14x3 where x₁ = the number of competitors within 1 mile. x₂ = the population within 1 mile (in 1,000s) X3 = 1 if drive-up windows are present; 0 otherwise ŷ = estimated sales (in $1,000s) (a) What is the interpretation of 14 (the coefficient of x3) in the regression equation? (Give the answer in dollars.) Sales in dollars at outlets with drive-up windows are on average $ 14 X higher than those without (b) Predict sales for an outlet with 3 competitors within one mile, a population of 14,000 within one mile, and one drive-up window (give the answer in dollars). $130 X Need Help? drive-up windows. (c) Predict sales for an outlet with 3 competitors within one mile, a population of 14,000 within one mile, and no drive-up window (give the answer in dollars). $112004 X Read It

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter3: Straight Lines And Linear Functions

Section3.4: Linear Regression

Problem 12SBE: Find the equation of the regression line for the following data set. x 1 2 3 y 0 3 4

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Question

100%

The following estimated regression equation has been proposed to predict sales at a fast food outlet.
ŷ = 16 - 4x₁ + 8x₂ + 14x3
where
fl
1
X1
= the number of competitors within 1 mile
the population within 1 mile (in 1,000s)
X3
= 1 if drive-up windows are present; 0 otherwise
ŷ = estimated sales (in $1,000s)
X2
(a) What is the interpretation of 14 (the coefficient of x3) in the regression equation? (Give the answer in dollars.)
Sales in dollars at outlets with
drive-up windows are on average $ 14
?
www.comm
(b) Predict sales for an outlet with 3 competitors within one mile, a population of 14,000 within one mile, and one drive-up window (give the answer in dollars).
$130
Need Help? Read It
(c) Predict sales for an outlet with 3 competitors within one mile, a population of 14,000 within one mile, and no drive-up window (give the answer in dollars).
$112004
f2
@
2
f3
#
*
3
f4
1/7
HT
$
4
f5
40
do
O
5
f6
4-
^
6
f7
♫+
C
&
f8
7
IAA
Xhigher than those without
Ⓒ
*
f9
D
hp
8
O
KIN
f10
EFINO
f11
drive-up windows.
21
f12.
insert
prt sc
+

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