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Author Question: A large national bank charges local companies for using its services. A bank official reported the ... (Read 159 times)

asmith134

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on: Jan 16, 2020
A large national bank charges local companies for using its services. A bank official reported the results of a regression analysis designed to predict the bank's charges (y), measured in dollars per month, for services rendered to local companies. One independent variable used to predict service charge to a company is the company's sales revenue (x), measured in millions of dollars. Data for 21 companies who use the bank's services were used to fit the model, The results of the simple linear regression are provided below.
= 2,700 + 20x, s = 65, 2-tailed p-value = 0.064 (for testing β1)
Interpret the estimate of β0, the y-intercept of the line.
◦ All companies will be charged at least $2,700 by the bank.
◦ About 95% of the observed service charges fall within $2,700 of the least squares line.
◦ For every $1 million increase in sales revenue, we expect a service charge to increase $2,700.
◦ There is no practical interpretation since a sales revenue of $0 is a nonsensical value.
Statistics: Informed Decisions Using Data ¦ Sullivan ¦ 5th Edition
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Marked as best answer by asmith134 on Jan 16, 2020

Koolkid240

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Reply #1 on: Jan 16, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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asmith134

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Reply 2 on: Jan 16, 2020
YES! Correct, THANKS for helping me on my review

Jsherida

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Reply 3 on: Yesterday
Wow, this really help

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