Math Problem Statement
An electronics retailer used regression to find a simple model to predict sales growth in the first quarter of the new year (January through March). The model is good for 90 days, where x is the day. The model can be written as follows:
ŷ = 103.38 + 2.45x
where ŷ is in thousands of dollars.
What would you predict the sales to be on day
(a) 60? (Enter an exact number as an integer, fraction, or decimal.) thousand dollars
(b) 90 ? (Enter an exact number as an integer, fraction, or decimal.) thousand dollars
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Regression
Algebra
Prediction Models
Formulas
ŷ = 103.38 + 2.45x
Theorems
-
Suitable Grade Level
Grades 10-12
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