A Local Tire Dealer Wants to Predict the Number of Tires

question 70

Essay

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 equation of the least squares line is ŷ = 3 + 1x. MSE = 4
Using the sums of the squares given above,determine the 90 percent prediction interval for tire sales in a month when the advertising expenditure is $5,000.

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Definitions:

Acetic Acid Dimer

A molecule formed by the combination of two acetic acid molecules, often through hydrogen bonding.

Hydrogen Bonds

Weak bonds formed when a hydrogen atom covalently attached to one electronegative atom is attracted to another electronegative atom.

IUPAC Name

The systematic naming of chemical compounds as recommended by the International Union of Pure and Applied Chemistry, ensuring consistency and clarity in chemical nomenclature.

Glutaric Acid

A five-carbon dicarboxylic acid with the formula C5H8O4, involved in amino acid metabolism and found in some plant and animal tissues.