Section 16.3 Exercise 9-TQuestion HelpThe accompanying data show the number of people working and the sales for small bookstore. The regression Iine is given below:...

Bookstore sales revisited Recall the data we saw in Chapter $6,$ Exercise 3 for a bookstore. The manager wants to predict Sales from Number of Sales People Working.
Table cannot copy
Here is the regression analysis of Sales vs. Number of Sales People Working.
Dependent variable is Sales
R-squared $=93.2 \%$
$\mathrm{s}=1.477$
$\begin{array}{ll}{\text { Variable }} & {\text { Coefficient }} \\ {\text { Intercept }} & {8.1006} \\ {\text { Num } \text { Workers }} & {0.9134}\end{array}$
a) Write the regression equation. Define the variables used in your equation.
b) What does the slope mean in this context?
c) What does the y-intercept mean in this context? Is it meaningful?
d) If 18 people are working, what Sales do you predict?
e) If sales for the 18 people are actually $25,000, what is the value of the residual?
f) Have we overestimated or underestimated the sales?

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