Reference no: EM1322519
Fitting of simple linear equation.
A suburban drug store manager thinks that its daily sales are related to the number of customers who visit its premises daily. To check on this, it gathers data on number of customers per day and daily sales. The data are shown in the table below.
A. Draw a scatter plot of the data.
B. Develop an equation showing how daily sales are related to number of customers per day.
C. Predict the daily sales when 450 customers visit the store.
Number of customers per day: 100, 200, 300, 400, 500
Daily Sales (in $1000): 1000, 1,000 2,000, 2,000 4,000
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