In working for a local retail store you have developed the e

In working for a local retail store, you have developed the estimated regression equation shown below, where y is the weekly sales in dollars, x_1, is the percent local unemployment rate, x_2 is the weekly average high temperature in degrees Fahrenheit, x_3 is the number of activities in the local community, x_4 is the average gasoline price. Complete parts a and b. What is the estimated sales if the local unemployment rate is 6.7%, the average high temperature is 63 degree F, there are 8 activities in the local community, and the average gasoline price is $1.35? The estimated sales are approximately $

Solution

Estimates sales approximately = 35,138