Find the estimated regression equation

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Reference no: EM1321233

Question: The marketing manager of a large supermarket chain would like to use shelf space to predict the sales of pet food.  For a random sample of 12 similar stores, she gathered the following information regarding the shelf space, in feet, devoted to pet food & the weekly sales in hundreds of dollars.  Use these data to answer questions 1 through 3.

 Store 1 2 3 4 5 6 Shelf Space 5 5 5 10 10 10 Weekly Sales 1.6 2.2 1.4 1.9 2.4 2.6

 Store 7 8 9 10 11 12 Shelf Space 15 15 15 20 20 20 Weekly Sales 2.3 2.7 2.8 2.6 2.9 3.1

[1.] Is the correlation between weekly sales & shelf space significant at the .01 level of significance?

[A] No, the sample correlation coefficient does not exceed the critical value.

[B] Yes, the p-value of the test for significance is less than .01.

[C] Yes, the value of the test statistic does not exceed the critical value.

[D] Yes, the computed t-test statistic is less than the critical value.

[2.] Find the estimated regression equation?

[A] ? = 2.63 + 0.724x

[B] ? = 1.45 + 0.724x

[C] ? = 1.45 + 0.074x

[D] ? = 2.63 - 0.174x

[3.] Calculate the value of the sample correlation coefficient between weekly sales & shelf space.

[A] 0.684

[B] 0.827

[C] 0.652

[D] 0.308

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