A Local Tire Dealer Wants to Predict the Number of Tires

question 172

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 equation of the least squares line is $\hat { y }$ = 3 + 1x. $\sum X$ = 24 $\sum X ^ { 2 }$ = 124 $\sum Y$ = 42 $\sum Y ^ { 2 }$ = 338 $\sum X Y$ = 196
MSE = 4
-Using the sums of the squares given above,determine the 90% confidence interval for the mean value of monthly tire sales when the advertising expenditure is $5000.

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Definitions:

Jewelry

Decorative items worn for personal adornment, such as rings, earrings, bracelets, and necklaces, often made of precious metals and stones.

Microbes

Microorganisms that can be beneficial or harmful to humans, including bacteria, viruses, fungi, and protozoa.

Surgical Asepsis

Techniques used to maintain a sterile environment and prevent infection during surgical procedures.

Medical Asepsis

Practices aimed at reducing the number and spread of pathogens or disease-causing microorganisms.