Suppose you are a manager for a carnival game at the local fair. You want to estimate how many prizes you will need to have in stock to give out, based on the number of tickets purchased before the fair begins. You examine the past 24 fair openings to make your regression model, and find the following information. Σ(x − x)² = 791.5 Σ e = 223.1 and ŷ = 294. 21 +0. 186x, where is the number of tickets purchased before the fair begins, and ŷ is the predicted demand for prizes during the first day of the fair. What is the standard error of the slope of the regression line? 3.184 0.024 8.1 1.654 0.054

Suppose you are a manager for a carnival game at the local fair. You want to estimate how many prizes you will need to have in stock to give out, based on the number of tickets purchased before the fair begins. You examine the past 24 fair openings to make your regression model, and find the following information. Σ(x − x)² = 791.5 Σ e = 223.1 and ŷ = 294. 21 +0. 186x, where is the number of tickets purchased before the fair begins, and ŷ is the predicted demand for prizes during the first day of the fair. What is the standard error of the slope of the regression line? 3.184 0.024 8.1 1.654 0.054

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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