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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.
What is approximately the largest sample mean of another sample of n= 16 participants you would expect to obtain from this finite population?
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