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.

The owner of a t-shirt store on a beach sells 200 shirts per month in the summer for a price of $15.00. During the winter months, the owner reduces the price to $9.00 and sells 100
shirts per month. The store must be leased in one-year increments at $400 per month in rent. The cost of labor, materials, and utilities are an additional $600 a month. Should the store remain open during the winter months?

A manager learns that the government is planning to add an excise tax on the product the company sells. After researching, the manager expects that total expenditures for the good will rise. Of the following goods, which does the company MOST likely sell?

Which of the following options is an example of an implicit transaction?

A ski coach is interested in estimating the 68% confidence interval around the mean time (in seconds) of all the gold medal winners in Olympic downhill skiing. The coach collects the data, presented below, for all of the winners from 1948 to 2014. The mean of the sample is 122.5 seconds, with a standard deviation of 23 seconds. Which Excel function below is the BEST option for determining the 68% confidence interval?

Please note that the Excel functions for confidence intervals are =CONFIDENCE.NORM(alpha, standard_dev, size) and =CONFIDENCE.T(alpha, standard_dev, size).