Instruction 12-2
a Chocolate Bar Manufacturer Is Interested in Trying

question 3

Multiple Choice

Instruction 12-2
A chocolate bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product.To do this,the company randomly chooses six country towns and cities and offers the chocolate bar at different prices.Using chocolate bar sales as the dependent variable,the company will conduct a simple linear regression on the data below:
$$\begin{array} { l l r r } { \text { City } } & & \text { Price } ( \$ ) & \text { Sales } \\\hline \text { Toowoomba } & & 1.30 & 100 \\\text { Broken Hill } & & 1.60 & 90 \\\text { Bendigo } & & 1.80 & 90 \\\text { Kalgoorlie } & & 2.00 & 40 \\\text { Launceston } & & 2.40 & 38 \\\text { Port Augusta } & & 2.90 & 32\end{array}$$
-Referring to Instruction 12-2,what is the estimated slope parameter for the chocolate bar price and sales data?

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Definitions:

Informal Reward Programs

Informal systems within an organization designed to recognize and reward employees for their performance beyond formal compensation structures.

Motivating Impact

The influence or effect that something has in encouraging or inspiring individuals to take action or exhibit certain behaviors.

Skill-Based Pay

A compensation system where pay levels are determined by an individual's skills or knowledge levels, rather than job title or position.

Scanlon Plans

Employee incentive programs focused on cost saving and efficiency, sharing the resulting financial gains with employees.