Statistics Problems - 10

6/6/2019 Assignment Print View

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9. Award: 0.20 points    

The director of marketing at Reeves Wholesale Products is studying monthly sales. Three independent variables were selected as estimators of sales: regional population, per capita income, and regional unemployment rate. The regression equation was computed to be (in dollars):

= 64,100 + 0.394x1 + 9.6x2 – 11,600x3 Note: Here, the variables x1, x2 and x3 refer to regional population, per capita income, and regional unemployment rate respectively. c. What are the estimated monthly sales for a particular region with a population of 796,000, per

capita income of $6,940, and an unemployment rate of 6.0%?

Estimated monthly sales

References

Worksheet Difficulty: 2 Intermediate

Learning Objective: 14-01 Use multiple regression analysis to describe and interpret a relationship between several independent variables and a dependent variable.

 

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