An analyst is trying to identify the xclaticnship botarcsn labor cost;Y-Cost1000

Question

An analyst is trying to identify the xclaticnship botarcsn labor cost;Y-Cost1000 in $1000 and nvestment in automated servers X-Auto100 in $100 for a sample of fast food restaurants Model Smary 1.05497 53.09* 49.96% 2.040 Coefficienta Tern CosSt Coel T-Value P-Value VIF Ccnatant....03 0.781 14.00 0.000 Nuto100 0.420 0.402 1.12 a.0 Regresnion Eqaation Cost1000 -10.934-0.420 uto100 Fit SE Fit 8.41308 025a (7.80522,9.02094) (6.08375, 10.7424) 95% a 95%PI Interpret the 95% Confidence Interval (shown above) when investment in automatic servers is equal to 600 dollars? 95 out of 100 times when investment in auto servers is $600 for a group of firms, average labor costs for the group will be between $7,800 and $9.020. 95 out of 100 times when investment for a group of firms in auto servers is $600, the average labor costs will be between $6,080 and $1,740 0 95 out of 100 times when investment in auto servers is $600, labor costs are between $6.080 and $1,740. 95 out of 100 times when investment in auto servers is $600, labor costs are between S7.800 and S9020.

Explanation / Answer

a) Option A is Correct because 95% confidencev interval is given as (7.80522, 9.02094), so in 1000 it will be

(7800, 9020)

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