Data on the average weekly profits

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With reference to Exercise 78, construct a 98% confidence interval for the regression coefficient β₂

Exercise 78

The following are data on the average weekly profits (in $1,000) of five restaurants, their seating capacities, and the average daily traffic (in thousands of cars) that passes their locations:

(a) Assuming that the regression is linear, estimate β₀, β₁, and β₂.

(b) Use the results of part (a) to predict the average weekly net profit of a restaurant with a seating capacity of 210 at a location where the daily traffic count averages 14,000 cars

Reference no: EM131137255

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