TABLE 13-10 the Management of a Chain Electronic Store Would Like to Like

question 132

Short Answer

TABLE 13-10
The management of a chain electronic store would like to develop a model for predicting the weekly sales (in thousands of dollars) for individual stores based on the number of customers who made purchases. A random sample of 12 stores yields the following results:

-Referring to Table 13-10, what are the values of the estimated intercept and slope?

---

Definitions:

Indifference Analysis

A microeconomic tool used to analyze consumer preferences indicating combinations of goods among which the consumer is indifferent, showing levels of utility.

Numerically Measurable

Quantifiable or capable of being expressed or measured in numerical terms.

Indifference Curve

A graph showing different bundles of goods between which a consumer is indifferent, indicating the combinations provide the same level of utility to the consumer.

Total Utility

The total satisfaction received from consuming a certain quantity of goods or services.