Concept explainers
To Find:
An equation of the regression line and estimate the daily ticket sales on the 15th day after the movie opens.
Answer to Problem 50SGR
The regression equation is :
The ticket sales on 15th day after the movie open = $12.29
Explanation of Solution
Given Information:
The table shows ticket sales during the first week.
Calculation:
Let
x -axis = days since movie opened
y -axis = daily ticket sales ($)
Using the regression calculator to find the equation of the regression line :
Days since sale began (x) | Daily Sales (y) |
1 | 85 |
2 | 92 |
3 | 89 |
4 | 78 |
5 | 65 |
6 | 68 |
7 | 55 |
Calculation Summary
So, the regression equation is :
Substituting the value of x =15 in regression equation to find the ticket sales on day 15 after the movie open :
So, the ticket sales on 15th day after the movie open = $12.29
Chapter 4 Solutions
Algebra 1
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