A Local Tire Dealer Wants to Predict the Number of Tires

question 49

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
-Calculate the standard error.

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Definitions:

Tectonic Plates

Massive, irregularly shaped slabs of solid rock that make up Earth's lithosphere, moving and interacting at their boundaries.

Transitional Links

Evidence of evolution, typically fossils, that bear a resemblance to two groups that in the present day are classified separately.

Archaeopteryx

An extinct dinosaur species known for having features of both birds and reptiles, considered a key piece of evidence in the evolution of birds.

Dinosaurs

A diverse group of reptiles of the clade Dinosauria, known from fossil evidence to have lived during the Mesozoic Era.