TABLE 12-2
A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses six small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:
.
-Referring to Table 12-2, if the price of the candy bar is set at $2, the estimated mean sales will be
A) 30.
B) 65.
C) 90.
D) 100.

Question

TABLE 12-2
A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses six small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:
  .
-Referring to Table 12-2, if the price of the candy bar is set at $2, the estimated mean sales will be
A) 30. 
B) 65. 
C) 90. 
D) 100.

Quizplus · Accepted Answer

Based on the regression equation in Table 12-2, when the price of the candy bar is $2, the estimated mean sales is 65.

TABLE 12-2 A Candy Bar Manufacturer Is Interested in Trying to Estimate