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Estimate of the population slope and interpret its meaning

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Reference no: EM13865117

Q-1a. You run a call center and are concerned about customer support service levels on the Help Desk. You want to know how many calls per day are handled by your help desk staff. You collect the data at left over a 75-day period. Use appropriate descriptive statistics to make sense of this data. Use an appropriate graph also. Explain your findings so that your non-quantitative partner will understand them.

Can demographic information be helpful in predicting sales at sporting goods stores? The data at left are monthly sales totals from a random sample of 33 stores in a large chain of nationwide sporting goods stores. All stores in the franchise, and thus within the sample, are approximately the same size and carry the same merchandise. The county, or in some cases counties, in which the store draws the majority of its customers is referred to here as the customer base. For each of the 33 set are:

Sales ------Latest one month sales total (dollars)
Income ---Median family income of customer base (dollars)
Age --------Median age of customer base (years)
HS ----------Percentage of customer base with a high school diploma
College ---Percentage of customer base with a college diploma
Growth ---Annual population growth rate of customer base over the past 10 years.

Q-2a. Construct a scatter plot, using sales as the dependent variable and median family income as the independent variable. Discuss the scatter plot. 

Q-2b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients b0 and b1 and state the regression equation. 

Q-2c. Interpret the meaning of the Y-intercept, b0, and the slope, b1, in this problem.

Q-2d. Compute the coefficient of determination r2, and interpret its meaning.

Q-2e. Construct a 95% confidence interval estimate of the population slope and interpret its meaning.

Attachment:- Montoto Mario.xlsx

Reference no: EM13865117

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