A clothing company is interested in the relationship between the number of sales per month for its employees (y) and price. Base
d on the collected data, the least-squares regression line is ŷ = 9.74 + 4.89x, where x is the number of dollars by which price exceeds $25. Which of the following statements best describes the meaning of the slope of the least-squares regression line? Question 3 options:
1)
For each increase in price of $1, the estimated number of sales per month increases by 4.89.
2)
For each increase in price of $1, the estimated number of sales per month increases by 9.74.
3)
For each increase of one sale per month, there is an estimated increase in price of $4.89.
4)
For each increase of one sale per month, there is an estimated increase in price of $9.74.
5)
The slope has no meaning because the units of measure for x and y are not the same.
