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1. The director of marketing at Reeves Wholesale Products is studying monthly sales. Three independent variables were selected as estimators of sales: regional population, per capita income, and regional unemployment rate. The regression equation was computed to be (in dollars):

Y= 64,100 + .394X1 + 9.6X2 - 11,600X3

a. What is the full name of the equation?
b. Interpret the number 64,100.
c. What are the estimated monthly sales for a particular region with a population of 796,000, per capita income of $6,940, and an unemployment rate of 6.0 percent?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
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