Moondollar, is a come·franchise that has many coffee stores a\" over the-rld. Mo

Question

Moondollar, is a come·franchise that has many coffee stores a" over the-rld. Moor Dears eaMee is nvenging·bear regeron model annual store income is the respense variable and population of the city is the explanatory variable A random sample of 20 stores is pelected and measurements are observed NDO r'000s $) 2,25a ,230 2,000 2,210 2,220 2,890 2.550 1,686 1,555 1.950 ,694 1,750 ,040 1,008 1,160 2,840 1, 560 2,140 3,060 2,570 3,170 1,095 2,539 1,448 1,513 2,347 1,841 1,130 2,250 1,044 )Caliculate the point prediction for the value x-2,500 Give your anawer as a w b) Grve the 95% predeton interval for the valu..-2.500, Gave ror answers as whole numbers Give your answers as whole numbers

Explanation / Answer

The regression equation is
Annual Income (Y) = 309 + 0.568 Population (X)

Given X = 2500

a) The predicted regression equation is

Y-hat = 309 + 0.568 * 2500 =  1727.5

b) The 95% prediciton interval at x = 2500 is 848.8 and 2606.2

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