Brewsky's is a chain of micro-breweries. Managers are interested
in the costs of the stores and believe that the costs can be
explained in large part by the number of customers patronizing the
stores. Monthly data regarding customer visits and costs for the
preceding year for one of the stores have been entered into the
regression analysis and the analysis is as follows:
In a regression equation expressed as y = a + bx, how is the letter y best described? (CMA adapted)
| Average monthly customer visits | 1,462 | ||
| Average monthly total costs | $ | 4,629 | |
| Regression Results | |||
| Intercept | $ | 1,496 | |
| b coefficient | $ | 2.08 | |
| R2 | 0.86814 | ||
In a regression equation expressed as y = a + bx, how is the letter y best described? (CMA adapted)
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An estimate of the total customers for the month.
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The proximity of the data points to the regression line.
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The observed store cost for a given month.
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The estimate of the number of new customer visits for the
month.