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Data from a sample of 10 pharmacies are used to examine the relation between prescription sales volume and the percentage of prescription ingredients purchased directly from the supplier. The sample data are shown in Table below.

Data from a sample of 10 pharmacies are used to examine the relation between prescription sales volume and the percentage of prescription ingredients purchased directly from the supplier. The sample data are shown in Table below.

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
Section4.5: Correlation And Causation
Problem 2CYU
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Data from a sample of 10 pharmacies are used to examine the relation between prescription sales volume and the percentage of prescription ingredients purchased directly from the supplier. The sample data are shown in Table below. Pharmacy Sales Volume, Y (in $ 1000) % of Ingredients Purchased Directly, X (in $1,000) 12510 25518 35025 47540 511050 613863 79042 86030 9105 1010055 Fit a suitable regression equation. How does the % of Ingredients Purchased Directly affect sales volume? If it is given that the % of Ingredients Purchased Directly for a pharmacy is $20,000, what would be the sales volume? Plot the standardized residuals and comment on the goodness of the model. How much contribution does % of Ingredients Purchased Directly make in explaining the sales volume? Can you predict the % of Ingredients Purchased Directly for a pharmacy when you are given that their sale volume is $80,000? Filters Add a caption. *1
Transcribed Image Text:Data from a sample of 10 pharmacies are used to examine the relation between prescription sales volume and the percentage of prescription ingredients purchased directly from the supplier. The sample data are shown in Table below. Pharmacy Sales Volume, Y (in $ 1000) % of Ingredients Purchased Directly, X (in $1,000) 12510 25518 35025 47540 511050 613863 79042 86030 9105 1010055 Fit a suitable regression equation. How does the % of Ingredients Purchased Directly affect sales volume? If it is given that the % of Ingredients Purchased Directly for a pharmacy is $20,000, what would be the sales volume? Plot the standardized residuals and comment on the goodness of the model. How much contribution does % of Ingredients Purchased Directly make in explaining the sales volume? Can you predict the % of Ingredients Purchased Directly for a pharmacy when you are given that their sale volume is $80,000? Filters Add a caption. *1
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