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A Local Tire Dealer Wants to Predict the Number of Tires

question 110

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A local tire dealer wants to predict the number of tires sold each month.He believes that the number of tires sold is a linear function of the amount of money invested in advertising.He randomly selects 6 months of data consisting of tire sales (in thousands of tires) and advertising expenditures (in thousands of dollars) .The equation of the least squares line is, A local tire dealer wants to predict the number of tires sold each month.He believes that the number of tires sold is a linear function of the amount of money invested in advertising.He randomly selects 6 months of data consisting of tire sales (in thousands of tires) and advertising expenditures (in thousands of dollars) .The equation of the least squares line is,   = 3 + 1x. Provide a managerial interpretation of the estimated y intercept. A) With no advertising dollars,we should expect to sale 3 tires. B) If there is no advertising,the sales are expected to be 3000 tires. C) For every thousand dollars in advertising expenditures,we should expect to sell 1000 tires. D) For every thousand dollars in advertising expenditures,we should expect to sell 3000 tires. = 3 + 1x. Provide a managerial interpretation of the estimated y intercept.

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Definitions:

Calvin Cycle

The Calvin cycle is a set of biochemical redox reactions that take place in the stroma of chloroplasts in photosynthetic organisms. It is a critical part of the process of carbon fixation in photosynthesis.

CO2

Carbon dioxide, a colorless gas with a slightly acidic taste and odor, a byproduct of respiration and an important greenhouse gas in Earth's atmosphere.

Chemoautotroph

Organism that obtains energy from inorganic compounds and synthesizes organic compounds from inorganic raw materials; includes some bacteria and many archaea. Compare with photoautotroph, photoheterotroph, and chemoheterotroph.

Nitrogen-Fixing Bacteria

are bacteria capable of transforming atmospheric nitrogen into fixed nitrogen, making it accessible to plants for growth.

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