Consider the Following to Answer the Question(s) Below

question 12

Multiple Choice

Consider the following to answer the question(s) below:
A small independent organic food store offers a variety of specialty coffees. To determine whether price has an impact on sales, the managers kept track of how many kilograms of each variety of coffee were sold last month. The data, scatterplot and summary statistics are shown below.

-The intercept of the estimated regression line that relates the response variable (Kilograms Sold) to the predictor variable (Price per Kilogram) is

• A) 95.47.
• B) 0.858.
• C) -4.684.
• D) -0.858.
• E) -8.999.

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Definitions:

Real Value

The worth of a good or service adjusted for inflation, showing its true purchasing power.

Output

The amount of goods or services produced by a company, country, or economic system within a certain period.

Inflation Tax

An implicit tax that results from the erosion of purchasing power due to inflation, effectively reducing the real value of money held by the public.

U.S. Government Revenue

The total income received by the government from taxes and non-tax sources like tariffs, fees, and government-owned enterprises income.