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Mathematics, 10.04.2020 03:58 quissowavyquis4808
A large national bank charges local companies for using their services. A bank official reported the results of a regression analysis designed to predict the bank's charges (Y) - measured in dollars per month - for services rendered to local companies. One independent variable used to predict service charges to a company is the company's sales revenue (X) - measured in millions of dollars. Data for 21 companies who use the bank's services were used to fit the model. The results of the simple linear regression are provided below. Y=−2,700+20X, SYX=65, two-tailed p-value = 0.034 (for testing β1)A 95% confidence interval for the slope coefficient is (15, 30). Interpret the interval. A. You are 95% confident that the mean service charge will fall between $15 and $30 per month. B. You are 95% confident that the mean service charge (Y) will increase between $15 and $30 for every $1 million increase in sales revenue (X).C. You are 95% confident that the sales revenue (X) will increase between $15 and $30 million for every $1 increase in service charge (Y).D. At the α = 0.05 level, there is no evidence of a linear relationship between service charge (Y) and sales revenue (X).
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A large national bank charges local companies for using their services. A bank official reported the...
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