A liquor wholesaler is interested in assessing the effect of the price of a premium scotch whiskey on the quantity sold. The results in the accompanying table on price, in dollars, and sales, in cases, were obtained from a sample of 8 weeks of sales records. Price 19.2 20.4 19.7 21.3 20.9 19.7 17.9 17.3 Sales 24.9 15.1 18.5 11.3 11.1 15.4 29.6 35.1 a. Estimate by least squares the linear regression of increase in sales on increase in price. b. Find an 80% confidence interval for the slope of the population regression line. Click to view the table of critical values of the Student's t distribution. a. (Round to three decimal places as needed.)

A liquor wholesaler is interested in assessing the effect of the price of a premium scotch whiskey on the quantity sold. The results in the accompanying table on price, in dollars, and sales, in cases, were obtained from a sample of 8 weeks of sales records. Price 19.2 20.4 19.7 21.3 20.9 19.7 17.9 17.3 Sales 24.9 15.1 18.5 11.3 11.1 15.4 29.6 35.1 a. Estimate by least squares the linear regression of increase in sales on increase in price. b. Find an 80% confidence interval for the slope of the population regression line. Click to view the table of critical values of the Student's t distribution. a. (Round to three decimal places as needed.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.6: Summarizing Categorical Data

Problem 30PPS

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