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What is the residual number of television sold

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Reference no: EM133108776

Question - The manager of a store is trying to estimate the weekly number of televisions sold based on the price ($) of the television.  Excel was used to investigate the potential linear relationship between these two variables. A section of the summary output is provided below:

Regression statistics

Multiple R

0.80

R square

0.64

Observations

19

Coefficients

Standard Error

Intercept

0.56

0.02

Price

-0.07

0.00

Say, in one particular week, this store sold 62 televisions that had a price of $2827.

What is the residual number of television's sold for a price of $2827?

Reference no: EM133108776

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