Instruction 12-10
the Management of a Chain Electronic Store Would

question 84

Short Answer

Instruction 12-10
The management of a chain electronic store would like to develop a model for predicting the weekly sales (in thousands of dollars)for individual stores based on the number of customers who made purchases.A random sample of 12 stores yields the following results:
$$\begin{array} { | c | c | } \hline \text { Customers } & \text { Sales (Thousands of Dollars) } \\\hline 907 & 11.20 \\\hline 926 & 11.05 \\\hline 713 & 8.21 \\\hline 741 & 9.21 \\\hline 780 & 9.42 \\\hline 698 & 10.08 \\\hline 510 & 6.73 \\\hline 529 & 7.02 \\\hline 460 & 6.12 \\\hline 872 & 9.52 \\\hline 650 & 7.53 \\\hline 603 & 7.25 \\\hline\end{array}$$
-Referring to Instruction 12-10,what is the value of the standard error of the estimate?

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Definitions:

Philanthropic Responsibility

The duty of businesses and organizations to contribute to the welfare of society through charitable donations, community service, and ethical practices.

Deontology

Deontology is a branch of ethics that focuses on the morality of actions based on whether they adhere to established rules or duties, rather than on the consequences of the actions.

Virtue Ethics

An approach to ethics that emphasizes an individual's character as the key element of ethical thinking, rather than rules or consequences.

Utilitarianism

A theory in ethics and philosophy that evaluates actions based on their outcomes, aiming for the greatest happiness for the greatest number.