Use this information for the following two problems. The linear regression model

Question

Use this information for the following two problems. The linear regression model given below can be used to predict hourly ticket sales at Lagoon. Ticket sales per hours = -631.26+11.25 degree (Current temperature in degree F) What is the predicted number of tickets sold per hour if the temperature is 76 degree F? Round to the nearest whole ticket. a. About 224 tickets b. About 123 tickets c. About 336 tickets d. About 240 tickets Choose the statement that best states the meaning of the slope in this context. a. The slope tells us that an average of 631.25 less tickets are sold per hour for each one degree loss in temperature. b. The slope tells us that a one degree increase in temperature is associated with an average increase in tickets sales of 11.25 tickets. c. The slope tells us that high temperatures are causing more people to buy tickets to the water park. d. The slope tells us that if ticket sales are decreasing, it is caused by a drop in temperature. e. None of these are correct. Suppose you take a random sample of 50 SLCC students and ask them how many states they have visited. Using the data from your sample, you construct a 95% confidence interval estimate of the average number of states visited by all students at SLCC and find it to be (4.23, 9.56). Which of the following statements is the best interpretation of the confidence interval? a. If we want to be less than 95% confident, we should take a smaller sample of students. b. You are 95% confident that the average number of states visited by the 50 students you surveyed is between 4.23 and 9.56. c. You are 95% confident that the average number of states visited by all students at SLCC is between 4.23 and 9.56 d. Based on the 95% confidence interval, there is evidence that the number of states all students at SLCC have visited is 6.895. e. About 95% of the students at SLCC have visited between 4.23 and 9.56 states.

Explanation / Answer

8)

Putting the value 76 in the regression equation, we get

Ticket sales per hour= -631.25+11.25(76)= 223.75= 224 (approx.)

Hence option A.

9)

In the given regression equation, if the value of the independent variable increases by 1, then the value of the dependent variable i.e. ticket sales per hour increases by 11.25.

So, the slope tells us that one degree increase in temperature is associated with an average increase in sales of 11.25 lakhs.

Hence option B.

10)

From a 95% confidence interval, we can say with 95% confidence that the population parameter lies between those 2 values.

So the 95% confidence interval in this case indicates that we can say with 95% confidence that the average number of states visited by all the students of SLCC lies between those 2 values.

Hence option C.

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