Independent variable = x(Cans of frozen OJ)
dependent variable = y(total cost)
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2 answers:
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Answer:
d) $128.65
Step-by-step explanation:
The table format from the question can be properly expressed as :
Coefficients Standard Error t Statistic p value
Intercept 39.14942 22.30182 1.755436 0.109712
x 1.792312 0.407507 4.398234 0.001339
Source df SS MS F = 29.51443
Regression 1 16850.99 16850.99 19.34446 = 0.682478
Residual 9 7839.915 871.1017
Total 10 24690.91
For a rural household with $90,000 annual income, Abby's model predicts weekly grocery expenditure of:_________.
The estimated regression equation is as follows:
Expenditure (y) = 39.15 + 1.79 x
For a rural household with $90,000 annual income; the independent variables will assume the following values
x = 50
Thus; the estimated groceries expenditure is computed from the above regression equation by replacing the values of the independent variables;
This can be expressed as:
y = 39.15 + 1.79 (50)
y = 39.15 + 89.5
y = $128.65