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In: Statistics and Probability

(Exam question) A pizza store wants to estimate the quarterly sales based on the student population...

(Exam question) A pizza store wants to estimate the quarterly sales based on the student population in town. The following data is obtained:

x = student population
(in 1000s)		 y = quarterly sales
(in $1000s)
2 58
6 105
8 88
8 118
12 117
16 137
20 157
20 169
22 149
26 202

Calculate the regression line. Provide an interpretation of the intercept and slope coefficients. Also give a prediction of sales when the student population is 17 thousand.

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Expert Solution

orchestra answered 1 year ago
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