Management proposed the following regression model to predict sales at a fast-food outlet. y = Bo + B121 + B2 + Bas +e where *1 = number of competitors within one mile E2 = population within one mile...


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Management proposed the following regression model to predict sales at a fast-food outlet.<br>y = Bo + B121 + B2 + Bas +e<br>where<br>*1 = number of competitors within one mile<br>E2 = population within one mile (1000s)<br>S1 if drive-up window present<br>otherwise<br>y = sales ($1000s)<br>The following estimated regression equation was developed after 20 outlets were surveyed.<br>ý = 10.1- 4.2 + 6.8z2 +15.3r3<br>a. What is the expected amount of sales attributable to the drive-up window?<br>b. Predict sales for a store with two competitors, a population of 8,000 within one mile, and no drive-up window.<br>Estimate of sales = $<br>c. Predict sales for a store with one competitor, a population of 3,000 within 1 mile, and a drive-up window.<br>Estimate of sales = $<br>

Extracted text: Management proposed the following regression model to predict sales at a fast-food outlet. y = Bo + B121 + B2 + Bas +e where *1 = number of competitors within one mile E2 = population within one mile (1000s) S1 if drive-up window present otherwise y = sales ($1000s) The following estimated regression equation was developed after 20 outlets were surveyed. ý = 10.1- 4.2 + 6.8z2 +15.3r3 a. What is the expected amount of sales attributable to the drive-up window? b. Predict sales for a store with two competitors, a population of 8,000 within one mile, and no drive-up window. Estimate of sales = $ c. Predict sales for a store with one competitor, a population of 3,000 within 1 mile, and a drive-up window. Estimate of sales = $

Jun 07, 2022
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