SCENARIO 13-10 The management of a chain electronic store would like to develop a model for predicting the weekly sales (in thousands of dollars)for individual stores based on the number of customers who made purchases.A random sample of 12 stores yields the following results:
-Referring to Scenario 13-10, the mean weekly sales will increase by an estimated $10 for each additional purchasing customer.

Question

SCENARIO 13-10 The management of a chain electronic store would like to develop a model for predicting the weekly sales (in thousands of dollars)for individual stores based on the number of customers who made purchases.A random sample of 12 stores yields the following results: 
-Referring to Scenario 13-10, the mean weekly sales will increase by an estimated $10 for each additional purchasing customer.

Quizplus · Accepted Answer

The statement indicates a positive linear relationship between the number of customers who made purchases and weekly sales. Therefore, if the number of purchasing customers increases by 1, the estimated weekly sales will increase by $10 on average. This suggests a slope of 10 in the linear regression model. The scenario states that the management wants to develop a model for predicting the weekly sales based on the number of customers who made purchases. If the mean weekly sales increase by an estimated $10 for each additional purchasing customer, then we can conclude that there is a positive correlation between the number of purchasing customers and the weekly sales. This means that as the number of customers increases, so does the weekly sales, which supports the statement that the mean weekly sales will increase by an estimated $10 for each additional purchasing customer.

SCENARIO 13-10 the Management of a Chain Electronic Store Would