A small theater company has a linear regression model to estimate y = the concession stand sales in dollars, based on knowing x = the number of people in attendance. The regression equation is: = 6.72x + 11.50 and the correlation coefficient was r = 0.781. The data set saw the number of people in attendance ranging from a minimum of 18 people to a maximum of 170 people. 1) Interpret the slope of the regression equation in the context of the problem. If it would make sense, interpret the y-intercept and if it doesn’t make sense to do that say why.
A small theater company has a linear regression model to estimate y = the concession stand sales in dollars, based on knowing x = the number of people in attendance. The regression equation is: = 6.72x + 11.50 and the correlation coefficient was r = 0.781. The data set saw the number of people in attendance ranging from a minimum of 18 people to a maximum of 170 people. 1) Interpret the slope of the regression equation in the context of the problem. If it would make sense, interpret the y-intercept and if it doesn’t make sense to do that say why.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 4SGR
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A small theater company has a linear regression model to estimate y = the concession stand sales in dollars, based on knowing x = the number of people in attendance. The regression equation is: = 6.72x + 11.50 and the
1) Interpret the slope of the regression equation in the context of the problem. If it would make sense, interpret the y-intercept and if it doesn’t make sense to do that say why.
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