Daphne, who graduated from one of the prestigious schools in Cebu, was asked by her boss to estimate the demand of the customer for the succeeding month. The resulting estimated regression equation is y = 1.304 + 0.602x, with the following range of independent variables: 0, 5, 8, 13, 16, 18, and 23. How will her boss interpret the estimated intercept?

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section1.3: Lines
Problem 92E
icon
Related questions
Question

Daphne, who graduated from one of the prestigious schools in Cebu, was asked by her boss to estimate the demand of the customer for the succeeding month. The resulting estimated regression equation is y = 1.304 + 0.602x, with the following range of independent variables: 0, 5, 8, 13, 16, 18, and 23. How will her boss interpret the estimated intercept?

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
Elementary Algebra
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
Functions and Change: A Modeling Approach to Coll…
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning