A Study Was Recently Performed by the Internal Revenue Service

question 122

True/False

A study was recently performed by the Internal Revenue Service to determine how much tip income waiters and waitresses should make based on the size of the bill at each table. A random sample of bills and resulting tips were collected and the following regression results were observed: SUMMARY OUTPUT Given this output, the point estimate for the average tip per dollar amount of the bill is approximately $0.21.

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