Since Exercises use real data, they are best answered with technology.
Pizzerias The following table gives the number of stores and the amount of sales (in millions of dollars) for the leading U.S. pizza chains in 2010. (Source: PMQ.com)
(a) Use the method of least squares to obtain the straight line that best fits these data. (Let x represent the number of stores in thousands.)
(b) Use the equation from (a) to estimate the 2010 sales for a pizza chain having 4000 stores.
(c) Use the equation from (a) to estimate the number of stores for a pizza chain whose 2010 sales were 1500 million dollars.
Pizzeria | Number of stores | Sales (in millions of dollars) |
Pizza Hut | 7542 | 5390 |
Domino’s Pizza | 4929 | 3306 |
Papa John’s | 2871 | 2097 |
Little Caesars | 2800 | 1253 |
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