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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) .Based on the data set with 6 observations,the simple linear regression model yielded the following results. = 24
= 124
= 42
= 338
= 196 Determine the value of the estimated y intercept.
Maximin Strategy
A decision rule used in game theory and decision making to maximize the minimum possible payoff, focusing on minimizing losses in the worst-case scenario.
Dam Fund
A financial pool created to fund the construction, maintenance, or repair of dam infrastructure.
Constant-Sum
A situation in which the total resources available are fixed, and one party's gain is another party's loss.
Prisoners' Dilemma
A scenario in game theory in which two individuals acting in their own self-interest do not achieve the optimal outcome, showing how cooperation can be difficult even when it is mutually beneficial.
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