Costco sells paperback books in their retail stores and wanted to examine the relationship between price...

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Costco sells paperback books in their retail stores and wantedto examine the relationship between price and demand. The price ofa particular novel was adjusted each week and the weekly sales wererecorded in the table below.

SalesPrice
3$12
4$11
6$10
10$9
8$8
10$7

Management would like to use simple regression analysis toestimate weekly demand for this novel using the price of the novel.The 95% confidence interval that estimates the average weekly salesfor a price of $9 is ________.

A. (1.96, 13.16)

B.(7.26, 7.86)

C.(5.93, 9.19)

D.(1.26, 13.86)

E.(1.69, 12.66)

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Question 6 0.25 pts

An office manager for a group of financial advisors who providefinancial services for individual clients. She would like toinvestigate whether a relationship exists between the number ofpresentations made to prospective clients in a month and the numberof new clients per month. The following table shows the number ofpresentations and corresponding new clients for a random sample ofsix employees.

EmployeePresentationsNew Clients
172
293
394
4103
5115
6123

The manager would like to use simple regression analysis toestimate the number of new clients per month based on the number ofpresentations made by the employee per month. The 90% predictioninterval that estimates the number of new clients per month for anemployee who makes nine presentations per month is ________.

A.(2.90, 3.97)

B.(1.83, 5.04)

C.(0.82, 5.44)

D.(0.00, 6.86)

E.

(0.34, 4.66)

Answer & Explanation Solved by verified expert
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Q 5 Let yweekly salesx price of the novelThe regression line that we want to estimate iswhere is theintercept is the slopeand is a random errorWe calculate the followingn6 is the number of observationsThe sample means areThe sum of squares areThe estimated value of the slope isThe estimated value of the intercept isthe estimated regression line isThe 95 confidence interval that estimates the average    See Answer
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