Which of the following is a correct explanation of the confidence interval for the regression slope? Choose the BEST option.Group of answer choicesThe Tip is expected to increase by between $32.389 and $81.525 for every dollar increase in Sale amount.The average Sale amount is expected to decrease by between $0.080 and $0.174 for every dollar increase in Tip.The Tip is expected to decrease by between $0.080 and $0.174 for every dollar increase in Sale amount.The average Tip is expected to increase by between $32.389 and $81.525 for every dollar increase in Sale amount.The average Tip is expected to increase by between $0.080 and $0.174 for every dollar increase in Sale amount.The average Sale amount is expected to increase by between $32.389 and $81.525 for every dollar increase in Tip. The graph and the Excel summary output below are about the weekend salesand tips at a certain Sonny's restaurant in Tallahassee, FL. Use them toanswer the SONNY'S questions that follow.The data was gathered by Sonny's employee Joshua Gonzalez for his group project in mySummer 2007 STA 2122 class.SLRI SONNY'S SCATTERPLOT250225H200175•C150E125100*F7550A25100200300400500600700800900100011001200SALE AMOUNT ($)© 2020 Radha Bose Florida State University Department of StatisticsSUMMARY OUTPUTSONNY'SRegression StatisticsMultiple R0.58064672R Square0.337150613Adjusted R Square0.325722175Standard Error28.73607083Observations60($) dIL ANOVAdfSSMSFSignificance FRegression124360.8175424360.8175429.501023811.15405E-06Residual5847894.18246825.7617666Total5972255CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Intercept56.9565933412.273195184.6407306742.02919E-0532.3891241681.52406252Sale Amount0.1269936850.0233810275.4314844941.15405E-060.0801914750.173795894© 2020 Radha Bose Florida State University Department of Statistics

In this study, the independent variable is sales amount and dependent variable is tips. The confidence interval for slope is (0.080, 0.174). The slope coefficient can be interpreted as, for every one unit increase in sales amount the tips would increase by 0.127 units on average.The interpretation for the confidence interval of slope is, when repeated samples of required sample size are taken, it can be expected about 95% of times, that the Tip would increase by between $0.080 and $0.174 for every dollar increase in Sale amount. Correct answer: The average Tip is expected to increase by between $0.080 and $0.174 for every dollar increase in Sale amount.

Answered: Which of the following is a correct…

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Which of the following is a correct explanation of the confidence interval for the regression slope? Choose the BEST option.

Group of answer choices

The Tip is expected to increase by between $32.389 and $81.525 for every dollar increase in Sale amount.

The average Sale amount is expected to decrease by between $0.080 and $0.174 for every dollar increase in Tip.

The Tip is expected to decrease by between $0.080 and $0.174 for every dollar increase in Sale amount.

The average Tip is expected to increase by between $32.389 and $81.525 for every dollar increase in Sale amount.

The average Tip is expected to increase by between $0.080 and $0.174 for every dollar increase in Sale amount.

The average Sale amount is expected to increase by between $32.389 and $81.525 for every dollar increase in Tip.

The graph and the Excel summary output below are about the weekend sales
and tips at a certain Sonny's restaurant in Tallahassee, FL. Use them to
answer the SONNY'S questions that follow.
The data was gathered by Sonny's employee Joshua Gonzalez for his group project in my
Summer 2007 STA 2122 class.
SLRI SONNY'S SCATTERPLOT
250
225
H
200
175
•C
150
E
125
100
*F
75
50
A
25
100
200
300
400
500
600
700
800
900
1000
1100
1200
SALE AMOUNT ($)
© 2020 Radha Bose Florida State University Department of Statistics
SUMMARY OUTPUT
SONNY'S
Regression Statistics
Multiple R
0.58064672
R Square
0.337150613
Adjusted R Square
0.325722175
Standard Error
28.73607083
Observations
60
($) dIL

ANOVA
df
SS
MS
F
Significance F
Regression
1
24360.81754
24360.81754
29.50102381
1.15405E-06
Residual
58
47894.18246
825.7617666
Total
59
72255
Coefficients
Standard Error
t Stat
P-value
Lower 95%
Upper 95%
Intercept
56.95659334
12.27319518
4.640730674
2.02919E-05
32.38912416
81.52406252
Sale Amount
0.126993685
0.023381027
5.431484494
1.15405E-06
0.080191475
0.173795894
© 2020 Radha Bose Florida State University Department of Statistics

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