Regression analysis. A local grocery store wants to predict its daily sales in dollars.The manager believes that the amount of newspaper advertising significantly affects sales.He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars)and advertising expenditures (in thousands of dollars).The Excel/MegaStat output given above summarizes the results of the regression model.Determine a 95 percent confidence interval estimate of the daily average store sales based on $3,000 advertising expenditures.The distance value for this particular prediction is reported as .164.

Question

Regression analysis.  A local grocery store wants to predict its daily sales in dollars.The manager believes that the amount of newspaper advertising significantly affects sales.He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars)and advertising expenditures (in thousands of dollars).The Excel/MegaStat output given above summarizes the results of the regression model.Determine a 95 percent confidence interval estimate of the daily average store sales based on $3,000 advertising expenditures.The distance value for this particular prediction is reported as .164.

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The Answer of Regression analysis.  A local grocery store wants to predict its daily sales in dollars.The manager believes that the amount of newspaper advertising significantly affects sales.He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars)and advertising expenditures (in thousands of dollars).The Excel/MegaStat output given above summarizes the results of the regression model.Determine a 95 percent confidence interval estimate of the daily average store sales based on $3,000 advertising expenditures.The distance value for this particular prediction is reported as .164.

Regression Analysis