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Question
Annie Mikhail, market analyst for a national company specializing in historic city tours, is analyzing the relationship between the sales revenue from historic city tours and the size of the city. She gathers data from six cities in which the tours are offered. Annie's dependent variable is annual sales revenues and her independent variable is the city population. Regression analysis of the data yielded the following tables.| Coefficients | Standard Error | t Statistic | p-value | |
| Intercept | -0.14156 | 0.292143 | -0.48455 | 0.653331 |
| x | 0.105195 | 0.013231 | 7.950352 | 0.001356 |
| Source | df | SS | MS | F | Se = 0.237 | |
| Regression | 1 | 3.550325 | 3.550325 | 63.20809 | r2 = 0.940483 | |
| Residual | 4 | 0.224675 | 0.056169 | |||
| Total | 5 | 3.775 |
For a city with a population of 500,000, Annie's model predicts annual sales of ________________.
a) $70,780
b) $5,259
c) $170,780
d) $52,597
e) $152,597
Answer
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