Regression Analysis a Local Grocery Store Wants to Predict

question 31

Essay

Regression Analysis A local grocery store wants to predict its daily sales in dollars.The manager believes that the amount of newspaper advertising significantly affects sales.He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars)and advertising expenditures (in thousands of dollars).The Excel/MegaStat output given above summarizes the results of the regression model.If the manager decides to spend $3,000 on advertising,based on the simple linear regression results given above,what are the estimated sales?

---

Definitions:

Thermoreceptors

Sensory receptors that respond to changes in temperature.

Mechanoreceptors

Sensory receptors responsible for detecting mechanical pressure or distortion, playing critical roles in touch and auditory systems.

Tactile Corpuscles

Specialized nerve endings in the skin that are responsible for sensitivity to light touch.

Merkel Cells

Specialized skin cells involved in the sense of touch, capable of detecting textures and shapes.