Question
The number of cars sold in a day at a particular dealership can be predicted from...
The number of cars sold in a day at a particular dealership can be predicted from the number of sales people working by using the following regression equation:
y¯=2.198+0.521x
Interpret the slope of this equation.
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
Following table shows the monthly sales of cars at a dealership: Month Number of cars Sold...
Following table shows the monthly sales of cars at a
dealership:
Month
Number of cars Sold
1
79
2
79
3
86
4
93
5
101
6
107
7
102
8
Answer the following questions based on the data given above.
Show your calculations.
What is the Trend equation for the above data? (25
Points)
ANS:
What is the expected sales for the 8th month based
on the Trend method? (10 Points)
ANS:
How much error is there in this...
Subject: Limit theorem 1. The number of cars sold weekly at a dealership is a random...
Subject: Limit theorem
1. The number of cars sold weekly at a dealership is a random variable
with expected value 16. Provide an upper limit on the probability that
a) Sales made in the next week exceed 18;
b) Suppose that a variation in the number of cars sold weekly is equal to 9.
Provide a lower limit for a probability of a close number of sales
week is between 10 and 22, inclusive.
A car dealership (which is opened 7 days a week) sells an average of 4 cars...
A car dealership (which is opened 7 days a week) sells an
average of 4 cars in a day. Assume the number of cars sold each day
is independent from any other day. The number of cars sold on any
given day can be approximated with a Poisson distribution. Find the
probability that the car dealership will sell 6 cars tomorrow.
A) 28
B) 0.1107
C) 0.8958
D)4
E) 0.8893
F) 0.1042
The table below shows the number of cars sold last month by seven employees at Concord...
The table below shows the number of cars sold last month by
seven employees at Concord Motors and their number of years of
sales experience.
Experience
Sales
1
8
2
6
2
7
4
14
5
9
6
13
8
10
Management would like to use simple regression analysis to estimate
monthly car sales using the number of years of sales experience.
The y-intercept for the regression equation is ________.
2.165
4.598
6.940
8.337
The rate of growth of sales (sales per day) for a particular company is predicted to...
The rate of growth of sales (sales per day) for a particular
company is predicted to be 45e^0.04t , beginning with
sales of 300 items on day t = 0.
Find a formula for the total number of sales in the first
t days.
he accompanying table shows the number of cars sold last month by seven employees at a...
he accompanying table shows the number of cars sold last month
by seven employees at a car dealership and their number of years of
sales experience. Management would like to use simple regression
analysis to estimate monthly car sales using the number of years of
sales experience. What is the total sum of squares for this
sample?
Experience
Sales
1
8
2
6
2
7
4
14
5
9
6
13
8
10
A.
83.50
B.
53.71
C.
70.83
D....
Ford would like to develop a regression model that would predict the number of cars sold...
Ford would like to develop a regression model that would predict
the number of cars sold per month by a dealership employee based on
the employee's number of years of sales experience (X1), the
employee's weekly base salary before commissions (X2), and the
education level of the employee. There are three levels of
education in the sales force—high school degree, associate's
degree, and bachelor's degree. The following dummy variables have
been defined.
Degree
X3
X4
High School
0
0
Associate's...
A coffee shop takes daily data on the high temperature for the day in degrees F,...
A coffee shop takes daily data on the high temperature for the
day in degrees F, and the number of cups of hot chocolate sold.
They construct a scatterplot and examine the linear
relationship.The least squares regression line equation is:
y=76.42-1.38x
1.Using the slope value, describe the relationship in context.
2.Can this line equation be used to make a prediction for number of
cups of hot chocolate sold when it's 60 degrees F outside?
Explain.3.The coffee shop took similar data...
A car dealership sells 0, 1, or 2 luxury cars on any day. When selling a...
A car dealership sells 0, 1, or 2 luxury cars on any day. When
selling a car, the dealer also tries to persuade the customer to
buy an extended warranty for the car. Let X denote the number of
luxury cars sold in a given day, and let Y denote the number of
extended warranties sold.
P(X = 0,Y = 0) = 1/6;
P(X = 1,Y = 0) = 1/12;
P(X = 1,Y = 1) = 1/6;
P(X = 2,Y...
The table below shows the number of cars sold last month by seven employees at Concord...
The table below shows the number of cars sold last month by
seven employees at Concord Motors and their number of years of
sales experience.
Experience
Sales
1
8
2
6
2
7
4
14
5
9
6
13
8
10
Management would like to use simple regression analysis to
estimate monthly car sales using the number of years of sales
experience. Which one of the following statements describes the
results of the hypothesis test that the population slope is...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 2 minutes ago
asked 15 minutes ago
asked 17 minutes ago
asked 21 minutes ago
asked 26 minutes ago
asked 35 minutes ago
asked 41 minutes ago
asked 46 minutes ago
asked 47 minutes ago
asked 53 minutes ago
asked 1 hour ago
asked 1 hour ago