Concept explainers
To Find:
An equation of the regression line and estimate the daily sales on day 10 of the sale.
Answer to Problem 49SGR
The required equation of the regression line is :
Daily sales on day 10 of the sale = $65
Explanation of Solution
Given Information:
The table shows the number of sales made at an outerwear store during a sale.
Calculation:
Let
x -axis = days since sale began
y -axis = daily sales ($)
Using the regression calculator to find the equation of the regression line :
Days since sale began (x) | Daily Sales (y) |
1 | 15 |
2 | 21 |
3 | 32 |
4 | 30 |
5 | 40 |
6 | 38 |
7 | 51 |
CALCULATION SUMMARY
Sum of X = 28
Sum of Y = 227
Mean X = 4
Mean Y = 32.4286
Sum of squares ( SSX ) = 28
Sum of products ( SP ) = 150
Regression Equation = y = bX + a
So, the regression equation is :
Substituting the value of x =10 in regression equation to find the daily sales on day 10 of the sale :
So, the daily sales on day 10 of the sale = $65
Chapter 4 Solutions
Algebra 1
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