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A grocery store is interested in how customers' income affects the amount of mone they spend each week. A regression analysis is performed to test this analysis. The results of the analysis are that the intercept is $17.80 and the slope is 0.0012. Calculate the residual for a household with income of $65,000 that spends $120 pe week on groceries. $24.00 $78.00 O $2.40 $12.00 $17.80

A grocery store is interested in how customers' income affects the amount of mone they spend each week. A regression analysis is performed to test this analysis. The results of the analysis are that the intercept is $17.80 and the slope is 0.0012. Calculate the residual for a household with income of $65,000 that spends $120 pe week on groceries. $24.00 $78.00 O $2.40 $12.00 $17.80

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 15HP
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A grocery store is interested in how customers' income affects the amount of money they spend each week. A regression analysis is performed to test this analysis. The results of the analysis are that the intercept is $17.80 and the slope is 0.0012. Calculate the residual for a household with income of $65,000 that spends $120 per week on groceries. $24.00 $78.00 $2.40 $12.00 $17.80
Transcribed Image Text:A grocery store is interested in how customers' income affects the amount of money they spend each week. A regression analysis is performed to test this analysis. The results of the analysis are that the intercept is $17.80 and the slope is 0.0012. Calculate the residual for a household with income of $65,000 that spends $120 per week on groceries. $24.00 $78.00 $2.40 $12.00 $17.80
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