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, =b,x+ bo. The results of the least-squares linear regression are provided below. Interpret the estimate of bo, the y-intercept of the line. 20x + 2,700, s = 65, 2-tailed p-value = 0.064 (for testing b,) O A. There is no practical interpretation since a sales revenue of $0 is not likely to be a value. O B. About 95% of the observed service charges fall within $2,700 of the least-squares regression line. OC. All companies will be charged at least $2,700 by the bank. O D. For every $1 million increase in sales revenue, we expect a service charge o increase $2,700

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, =b,x+ bo. The results of the least-squares linear regression are provided below. Interpret the estimate of bo, the y-intercept of the line. 20x + 2,700, s = 65, 2-tailed p-value = 0.064 (for testing b,) O A. There is no practical interpretation since a sales revenue of $0 is not likely to be a value. O B. About 95% of the observed service charges fall within $2,700 of the least-squares regression line. OC. All companies will be charged at least $2,700 by the bank. O D. For every $1 million increase in sales revenue, we expect a service charge o increase $2,700

Trigonometry (MindTap Course List)

8th Edition

ISBN:9781305652224

Author:Charles P. McKeague, Mark D. Turner

Publisher:Charles P. McKeague, Mark D. Turner

Chapter4: Graphing And Inverse Functions

Section: Chapter Questions

Problem 6GP: If your graphing calculator is capable of computing a least-squares sinusoidal regression model, use...

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