Question based on regression analysis

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Reference no: EM13101388

Alan Bissell, a market analyst for City Sound Mart, is analyzing sales of heavy metal CD's. Alan's dependent variable is annual heavy metal CD sales (in $1,000,000's), and his independent variables are teenage population (in 1,000's) and type of sales district (0 = urban, 1 = rural). Regression analysis of the data yielded the following tables.

	Coefficients	Standard Error	t Statistic	p-value
Intercept	1.7	0.384212	4.424638	0.00166
x₁(teenagers)	0.04	0.014029	2.851146	0.019054
x₂(district)	-1.5666667	0.20518	-7.63558	3.21E-05

For two sales districts with the same number of teenagers one urban and one rural, Alan's model predicts _______.

$1,566,666 higher sales in the rural district

the same sales in both districts

$1,566,666 lower sales in the rural district

$1,700,000 higher sales in the urban district

$ 1,700,000 lower sales in the rural district

Reference no: EM13101388

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