A regression analysis between sales (in 1000) and price (in ...

[lilldybug07]

A regression analysis between sales (in 1000) and price (in dollars) resulted in the following equation: = 60 - 8x The above equation implies that an
 a. increase of 1 in price is associated with a decrease of 8 in sales.
  b. increase of 8 in price is associated with a decrease of 52,000 in sales.
  c. increase of 1 in price is associated with a decrease of 52 in sales.
  d. increase of 1 in price is associated with a decrease of 8000 in sales.

Question 2

A major credit card company has determined that its customers charge an average of 280 per month on their accounts with a standard deviation of 20.
 a. What percentage of the customers charges more than 275 per month?
  b. What percentage of the customers charges less than 243 per month?
  c. What percentage of the customers charges between 241 and 301.60 per month?

[bubulittle310@msn.cn]

Answer to Question 1

d

Answer to Question 2

a. 59.87
b. 3.22
c. 83.43

[lilldybug07]

Thanks for the timely response, appreciate it

[sultansheikh]

Great answer, keep it coming