A Local Tire Dealer Wants to Predict the Number of Tires

question 61

Short Answer

A local tire dealer wants to predict the number of tires sold each month. He believes that the number of tires sold is a linear function of the amount of money invested in advertising. He randomly selects 6 months of data consisting of tire sales (in thousands of tires) and advertising expenditures (in thousands of dollars). Based on the data set with 6 observations, the simple linear regression equation of the least squares line is ŷ = 3 + 1x.
∑X = 24
∑X² = 124
∑Y = 42
∑Y² = 338
∑XY = 196
MSE = 4
Using the sums of the squares given above, determine the 95 percent confidence interval for the slope.

---

Definitions:

Monolithic

Describing an organization, system, or structure that is large, powerful, indivisible, and unwilling to change.

Clinician's Obligation

The ethical and professional responsibility of healthcare providers to deliver care, maintain patient confidentiality, and promote the well-being of their patients.

Confidential Information

Data or knowledge that is intended to be kept secret or private, typically due to its sensitive nature.

Legal Proceeding

The act of pursuing legal proceedings in a judicial court.