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Author Question: A regression analysis between sales (in 1000) and price (in dollars) resulted in the following ... (Read 88 times)

lilldybug07

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on: Jun 24, 2018
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?


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bubulittle310@msn.cn

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Reply #1 on: Jun 24, 2018
Answer to Question 1

d

Answer to Question 2

a. 59.87
b. 3.22
c. 83.43


lilldybug07

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Reply 2 on: Jun 24, 2018
Excellent

epscape

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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