A Local Tire Dealer Wants to Predict the Number of Tires

question 68

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
-Determine the value of the estimated y intercept and write equation of the least squares line.

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Definitions:

Echinacea

A genus of herbaceous plants used in herbal medicine, believed to boost the immune system.

Turmeric

A spice derived from the Curcuma longa plant, widely used for its flavor, color, and potential health benefits, including anti-inflammatory properties.

Stress Response

The body's reaction to a challenge or demand, characterized by physiological changes like increased heart rate and elevated cortisol levels.

Dilated Pupils

A condition where the pupils of the eyes are enlarged, potentially indicating arousal, low light conditions, or the influence of drugs, medication, or injury.