A rendering plant wishes to use the data (sales records from a few local businesses and the month of the year) to help determine their supply level for the coming months. The records shown in the table provide an excellent opportunity for you to assist them with their forecasting.
$$\begin{array} { | c | c | c | }
\hline \text { Month } & \text { Sales } & \text { Pounds } \
\hline \text { Tanuary } & 45 & 54.3 \
\hline \text { February } & 57 & 63.8 \
\hline \text { March } & 32 & 39.5 \
\hline \text { April } & 44 & 49.8 \
\hline \text { May } & 51 & 52.3 \
\hline \text { Tune } & 34 & 39.9 \
\hline
\end{array}$$
-Using 1 to represent January, 2 to represent February, and so on, what is the intercept for the regression equation that predicts the pounds of supplies available?
A) 0.55
B) -2.74
C) 59.55
D) 8.87

Question

A rendering plant wishes to use the data (sales records from a few local businesses and the month of the year) to help determine their supply level for the coming months. The records shown in the table provide an excellent opportunity for you to assist them with their forecasting.
 $$\begin{array} { | c | c | c | } 
\hline \text { Month } & \text { Sales } & \text { Pounds } \
\hline \text { Tanuary } & 45 & 54.3 \
\hline \text { February } & 57 & 63.8 \
\hline \text { March } & 32 & 39.5 \
\hline \text { April } & 44 & 49.8 \
\hline \text { May } & 51 & 52.3 \
\hline \text { Tune } & 34 & 39.9 \
\hline
\end{array}$$
-Using 1 to represent January, 2 to represent February, and so on, what is the intercept for the regression equation that predicts the pounds of supplies available?
A) 0.55
B) -2.74
C) 59.55
D) 8.87

Quizplus · Accepted Answer

The intercept of the regression equation is the value of the dependent variable (pounds) when the independent variable (month) is zero. Based on the data provided, the intercept is calculated to be approximately 59.55.

A Rendering Plant Wishes to Use the Data (Sales Records