Answer:
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Explanation:
now i know my abc, next i would you sing with me
Answer a) The letter b is best described as the estimate of the cost for an additional customer visit.
Answer b) The letter y is best described as the observed store cost for a given month.
Answer c) The letter x is best described as observed customer visit for a given month.
Answer d) The estimated cost for 370 customer visits is
Y = a + bx
a =$ 687.65 b = $ 7.59 x = 370 customer visits
Y = $ 687.65 + ($ 7.59 * 370 customer visit) = $ 687.65 + $ 2,808.3 = $ 3,495.95
Answer e) The percent of total variance that can be explained by regression equation is R2 = 0.79754 or 79.754%
The 95% confidence interval will be wider than the 90% confidence interval.
In statistics, the likelihood that a population parameter will fall between a set of values for a certain percentage of the time is referred to as a confidence interval. Analysts frequently employ confidence ranges that include 95% or 99% of anticipated observations. Therefore, it may be concluded that there is a 95% likelihood that the real value falls within that range if a point estimate of 10.00 with a 95% confidence interval of 9.50 - 10.50 is derived using a statistical model.
- The level of certainty or uncertainty in a sampling process is measured by confidence intervals.
- Additionally, they are employed in regression analysis and hypothesis testing.
- To determine statistical significance, statisticians frequently combine confidence intervals with p-values.
- 95% or 99% confidence levels are most frequently used in their construction.
Learn more about Confidence interval, here
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In the state of FL you'll be assessed 4 points.