The net of a solid figure is shown below:

The fitted regression is Sales = 832 − 28.2 Price. (a-1) If Price = 1, what is the prediction for Sales? (Round your answer to 1

almond37 [142]

Answer:

Part (a-1): The prediction for Sales is 803.8.

Part (a-2): The correct option is: An increase in price decreases sales.

Part (B): The prediction for sales is 211.66

Part (C): The intercept is meaningful as sales will be maximized when price is zero.

Step-by-step explanation:

Consider the provided regression:

Sales = 832 − 28.2 Price

(a-1) If Price = 1, what is the prediction for Sales?

Substitute Price = 1 in above regression.

Sales = 832 − 28.2 (1) = 803.8

Hence, the prediction for Sales is 803.8.

Sales (a-2) Choose the correct statement.

Here we can observe that as we increase the price, sales decrease.

Thus, the correct option is: An increase in price decreases sales.

(b) If Price = 22, what is the prediction for Sales?

Substitute Price = 22 in above regression.

Sales = 832 − 28.2 (22)

Sales = 832 − 620.4

Sales = 211.66

Hence, the prediction for sales is 211.66

Sales (c) Choose the right option.

As we increase the price, sales decrease that means the sales will be maximum if the price is 0.

The intercept is meaningful as sales will be maximized when price is zero.

3 0

3 years ago

Customers arrivals at a checkout counter in a department store per hour have a Poisson distribution with parameter λ = 7. Calcul

IgorLugansk [536]

Answer:

(1)14.9% (2) 2.96% (3) 97.04%

Step-by-step explanation:

Formula for Poisson distribution: $P(k) = \frac{\lambda^ke^{-k}}{k!}$ where k is a number of guests coming in at a particular hour period.

(1) We can substitute k = 7 and $\lambda = 7$ into the formula:

$P(k=7) = \frac{7^7e^{-7}}{7!}$

$P(k=7) = \frac{823543*0.000911882}{5040} = 0.149 = 14.9\%$

(2)To calculate the probability of maximum 2 customers, we can add up the probability of 0, 1, and 2 customers coming in at a random hours

$P(k\leq2) = P(k=0)+P(k=1)+P(k=2)$

$P(k\leq2) = \frac{7^0e^{-7}}{0!} + \frac{7^1e^{-7}}{1!} + \frac{7^2e^{-7}}{2!}$

$P(k \leq 2) = \frac{0.000911882}{1} + \frac{7*0.000911882}{1} + \frac{49*0.000911882}{2}$

$P(k\leq2) = 0.000911882+0.006383174+0.022341108 \approx 0.0296=2.96\%$

(3) The probability of having at least 3 customers arriving at a random hour would be the probability of having more than 2 customers, which is the invert of probability of having no more than 2 customers. Therefore:

$P(k\geq 3) = P(k>2) = 1 - P(k\leq2) = 1 - 0.0296 = 0.9704 = 97.04\%$

4 0

3 years ago

Brinn's rectangular kitchen has an area of 81 square feet. the kitchen is 9 times as many square feet as Brinn's pantry. If the

elixir [45]

3 feet, you divide 81 by 9 and you get the square feet of the pantry, then you divide that by 3

7 0

3 years ago

In an inductive generalization, in order to achieve an error margin of plus or minus 3 percentage points at a confidence level o

ANTONII [103]

Let n = required random sample size.

Assume that the population standard deviation is known as σ.
Let m = sample mean.
At the 95% confidence level, the expected range is
(m - k(σ/√n), m + k(σ/√n))
where k = 1.96.

Therefore the error margin is 1.96(σ/√n).
Because the error margin is specified as 3% or 0.03, therefore
(1.96σ)/√n = 0.03
√n = (1.96σ)/0.03
n = 128.05σ²

This means that the sample size is about 128 times the population variance.

Answer:
Smallest sample size = 128.05σ², where σ = population standard deviation.

6 0

3 years ago

Multiply the following complex numbers: (-7+ ) and ( + i). Show all work and explain the steps you are taking in the work.

notka56 [123]

Answer:

Step-by-step explanation:

in complex number land there are two distict parts real.. the first number and imaginary.. the second number with the i

if your problem really only has a 7 and an i in it.. then it looks like below

7 * i = 7i

but..I suspect you just left out a bit of the problem.. repost .. i'll answer it again if the problem is different that what you posted already :)

8 0

3 years ago