Question 17) Suppose the sales (10005 of $) of a fast food restaurant are a linear function of the number of competing 'outlets within a 5 mile radius and the population (10005 of people) within a 1 mile radius

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Question 17) Suppose the sales (10005 of $) of a fast food restaurant are a linear function of the number of competing 'outlets within a 5 mile radius and the population (10005 of people) within a 1 mile radius. The regression equation quantifying this relation Is (sales)= 1. 503*(competitors) + 6. 624*(population) + 6. 52. Suppose the sales (in 10005 of $) to be of a store that has 6 competitors and a population of 9 thousand people within a 1 mile radius are 53961 (10005 $). You calculate the residual to be -21.193. What is the best interpretation of this residual? O 1) The sales are 21.193 (10005 $) less than what we would expect. 0 2) The sales are 21.193 (10005 $) greater than what we would expect. 0 3) The number of competitors are 21.193 stores less than what we would expect. 0 4) The sales are 53.961 (10005 $) less than what we would expect. 0' 5) The number of competitors are 21.193 stores larger than what we would expect.