Stats Solutions

[Step-by-Step] To examine the relationship between the size (in square feet) of a store and its annual sales (in thousands of Dollars), a sample of 14 stores

Question: To examine the relationship between the size (in square feet) of a store and its annual sales (in thousands of Dollars), a sample of 14 stores was selected. The results for the 14

stores are summarized in the table below.

Store Size ( x ) Sales ( y )
1 1,726 3,681
2 1,642 3,895
3 2,816 6,653
4 5,555 9,543
5 1,292 3,418
6 2,208 5,563
7 1,313 3,660
8 1,102 2,694
9 3,151 5,468
10 1,516 2,898
11 5,161 10,674
12 4,567 7,585
13 5,841 11,760
14 3,008 4,085
  1. Draw a scatter diagram of the data. Does a simple linear regression model seem appropriate here?
  2. Fit the least squares line to the data to write the simple linear regression equation.
  3. Plot the least squares line as a check on your calculations.
  4. Interpret the meaning of the slope.
  5. Interpret the meaning of the intercept. Does it have a practical meaning here?
  6. Evaluate the assumptions (check on is i.i.d. N(0, 2 )).
  7. What are the values of SSE and s 2 ? What does " s " mean?
  8. What is the 95% Confidence Interval for the slope?
  9. What is the value of "Coefficient of Determination", what does it measure?

Price: $2.99
Solution: The downloadable solution consists of 8 pages
Deliverable: Word Document


∴ Other downloads you may be interested in ∴

log in to your account

Forgot password?
Don't have a membership account?
REGISTER

reset password

Back to
log in

sign up

Back to
log in