What are limits of prediction interval of the daily sales

Reference no: EM13147597

The local grocery store wants to predict the daily sales in dollars. The manager believes that the amount of newspaper advertising significantly affects the store sales. He randomly selects 7 days of data consisting of daily grocery store sales (in thousands of dollars) and advertising expenditures (in thousands of dollars). The Excel/Mega-Stat output given above summarizes the results of the regression model.

What are the limits of the 99% prediction interval of the daily sales in dollars of an individual grocery store that has spent $3000 on advertising expenditures? The distance value for this particular prediction is reported as .164.

1. $64,496 to $102.170
2. $33,108 to $133,558
3. $71,324 to $95,342
4. $51,314 to $115,353

Reference no: EM13147597

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