The regression equation to predict sales based on temperature is: Predicted sales = -2419.01+ 98.02 (temperature). A correct interpretation of the slope would be that 1. as temperature goes up by 1 degree, sales are predicted to go down by 2419.01. 2. as temperature goes down by 1 degree, sales are predicted to go up by 2419.01. 3. as temperature goes up by 1 degree, sales are predicted to go down by 98.02. 4. as temperature goes up by 1 degree, sales are predicted to go up by 98.02. 5. None of the answer choices provides a correct interpretation of the slope.
The regression equation to predict sales based on temperature is: Predicted sales = -2419.01+ 98.02 (temperature). A correct interpretation of the slope would be that 1. as temperature goes up by 1 degree, sales are predicted to go down by 2419.01. 2. as temperature goes down by 1 degree, sales are predicted to go up by 2419.01. 3. as temperature goes up by 1 degree, sales are predicted to go down by 98.02. 4. as temperature goes up by 1 degree, sales are predicted to go up by 98.02. 5. None of the answer choices provides a correct interpretation of the slope.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The regression equation to predict sales based on temperature is: Predicted sales = -2419.01+ 98.02 (temperature). A correct interpretation of the slope would be that
1. as temperature goes up by 1 degree, sales are predicted to go down by 2419.01.
2. as temperature goes down by 1 degree, sales are predicted to go up by 2419.01.
3. as temperature goes up by 1 degree, sales are predicted to go down by 98.02.
4. as temperature goes up by 1 degree, sales are predicted to go up by 98.02.
5. None of the answer choices provides a correct interpretation of the slope.
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