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NEW QUESTION 36
A new smartphone is being released at a price of $100. A customer with a willingness to pay (WTP) of $105 walks to the store, sees that there is a long line, and decides to leave. Another customer with a WTP of $113 arrives at the store at the same time and decides to wait in the line. What can an observer deduce from this observation?
Answer: B
NEW QUESTION 37
An individual interviews 15 people under the age of 40 and asks each for their age and salary. The resulting scatter plot is shown below.
Based on this graph, the correlation between age and salary appears to be approximately:
Answer: C
NEW QUESTION 38
The owner of a small bakery is interested in forecasting the bakery's total sales for a certain date. The owner believes that sales on a given day are influenced by the day's highest temperature (in degrees F) and whether the day falls on a weekend (Saturday or Sunday). A random sample of 60 days is taken from November 2013 to May 2014; the regression results are given below. If the high temperature for tomorrow, a Thursday, is forecasted to be 60 degrees F, what does the model predict the total sales will be?
Note that the weekend dummy variable takes a value of one for Saturday and Sunday and zero otherwise.
Answer: A
NEW QUESTION 39
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