A Local Tire Dealer Wants to Predict the Number of Tires

question 106

Essay

A local tire dealer wants to predict the number of tires sold each month.The dealer believes that the number of tires sold is a linear function of the amount of money invested in advertising.The dealer 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 model yielded the following results. $\sum X$ = 24 $\sum X ^ { 2 }$ = 124 $\sum Y$ = 42 $\sum Y ^ { 2 }$ = 338 $\sum X Y$ = 196
-Find the estimated slope.

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Definitions:

Social Loafing

The circumstances in which persons engaged in a group task demonstrate lower efforts in goal accomplishment than in solitary work conditions.

Personal Accountability

The responsibility of individuals for their actions and decisions, acknowledging their consequences.

Group Situation

A scenario in which multiple individuals are present, interacting, and possibly working towards a common goal or within a common context.

Personal Control

The belief that one has the ability to influence or control the events in their life, contributing to psychological empowerment.