a.
To explain: Whether the weekly sales revenue is related to the length of the house assigned to the brand of house.
a.
Answer to Problem 17PT1
No
Explanation of Solution
Given:
Figure is:
Output is:
From the provided
b.
To find: The equation of the regression line.
b.
Answer to Problem 17PT1
The equation is
Explanation of Solution
Calculation:
The general equation of regression line is,
According to the question, the dependent variable ( X ) is the shelf length and the dependent variable ( Y ) is the sales.
From the provided output, the constant value is 317.94 and the coefficient of the variable “Shelf length” is
Putting the values of a and b in the regression line. Thus:
Thus, the regression line is
c.
To find: The best estimate of weekly sales revenue.
c.
Answer to Problem 17PT1
The best estimate is $1081.34.
Explanation of Solution
Calculation:
The best estimate of weekly sales revenue can be calculated as:
Thus, the best estimate is $1081.34.
d.
To interpret: The value of s .
d.
Explanation of Solution
From the output, s is 22.9212. It shows that on an average the predicted sale of the week is likely to be deviated by $22.9212 from the actual or true sale.
e.
To find: The coefficient of determination and interpret it
e.
Explanation of Solution
The coefficient of determination shows the variation that is explained by the predictor variable on the response variable. Here, coefficient of determination is 98.2%
Thus, it shows that that the 98.2% of the variation on the response variable is explained by the least square line
f.
To provide: The sufficient explanation for the question of the manage related to the intercept.
f.
Explanation of Solution
It could be seen that the
Chapter 4 Solutions
The Practice of Statistics for AP - 4th Edition
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Elementary Statistics
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