The Following Regression Model Has Been Proposed to Predict Sales $\hat { Y }$

question 102

Short Answer

The following regression model has been proposed to predict sales at a computer store.
$\hat { Y }$ = 50 - 3X1 + 20X2 + 10X3
where
X1 = competitor's previous days sales in $1,000s) X2 = population within 1 mile in 1,000s)
X3 =
= sales in $1,000s)
$\hat { Y }$ Predict sales in dollars) for a store with the competitor's previous day's sale of $5,000, a population of 20,000 within 1 mile, and nine radio advertisements.

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Definitions:

Specificity

The ability of a test to correctly identify those without the disease or condition being tested for.

Positive Predictive Value

The probability that subjects with a positive screening test truly have the disease.

Prevalence

The total number of cases of a disease that exist in a particular population at a specific time.

False-Positive Diagnosis

An erroneous identification where a test incorrectly indicates the presence of a condition that is actually absent.