A fitted regression Profit = -570 + 30 Sales (all variables in thousands of dollars) was estimated from a random sample of 20 pharmacies. For a pharmacy with Sales = 10, we predict that Profit will be:
A)3570.
B)2430.
C)-270.
D)870.

Question

Quizplus · Accepted Answer

The predicted Profit is calculated by substituting Sales = 10 into the regression equation: Profit = -570 + 30(10) = -570 + 300 = -270.

A Fitted Regression Profit = -570 + 30 Sales (All