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Decision theory

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Reference no: EM13961291

Decision Theory

Solve the following problem:

The number of sandwiches sold at a shop near a University varies by day of the week.   The number of students attending class also varies by day of the week, as the following table indicates. The University will soon include a full Saturday schedule, and it believes 1,500 students will attend those Saturday classes. Using the regression method, forecast the number of sandwiches the shop will sell if it is open on Saturday. Show your work.

Day                 Sandwiches sold         Students attending class       

Monday                       90                              2,000 

Tuesday                      109                              2,400

Wednesday                 100                              2,100

Thursday                     114                              2,500

Friday                         86                               1,700

Saturday                      ?                                1,500

Reference no: EM13961291

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