A local tire dealer wants to predict the number of tires sold each month.He believes that the number of tires sold is a linear function of the amount of money invested in advertising.He randomly selects 6 months of data consisting of tire sales (in thousands of tires)and advertising expenditures (in thousands of dollars).Based on the data set with 6 observations,the simple linear regression model yielded the following results. = 24 = 124 = 42 = 338 = 196 Determine the value of the estimated y intercept.
A)1.00
B)7.00
C)4.00
D)3.00

Question

A local tire dealer wants to predict the number of tires sold each month.He believes that the number of tires sold is a linear function of the amount of money invested in advertising.He randomly selects 6 months of data consisting of tire sales (in thousands of tires)and advertising expenditures (in thousands of dollars).Based on the data set with 6 observations,the simple linear regression model yielded the following results.  = 24  = 124  = 42  = 338  = 196 Determine the value of the estimated y intercept.
A)1.00 
B)7.00 
C)4.00 
D)3.00

Quizplus · Accepted Answer

The Answer of A local tire dealer wants to predict the number of tires sold each month.He believes that the number of tires sold is a linear function of the amount of money invested in advertising.He randomly selects 6 months of data consisting of tire sales (in thousands of tires)and advertising expenditures (in thousands of dollars).Based on the data set with 6 observations,the simple linear regression model yielded the following results.  = 24  = 124  = 42  = 338  = 196 Determine the value of the estimated y intercept.
A)1.00 
B)7.00 
C)4.00 
D)3.00

A Local Tire Dealer Wants to Predict the Number of Tires