Question: A large chain store wants to forecast annual sales for new stores based on store size. A random sample 14 stores was selected. Data are shown below:

Use EXCEL

Square Feet Annual Sales

Store (Thousands) (in_millions_of_dollars)

1 1.7 3.7

2 1.6 3.9

3 2.8 6.7

4 5.6 9.5

5 1.3 3.4

6 2.2 5.6

7 1.3 3.7

8 1.1 2.7

9 3.2 5.5

10 1.5 2.9

11 5.2 10.7

12 4.6 7.6

13 5.8 11.8

14 3.0 4.1

a) What was your statistic?

b) Is Square footage a good predictor of annual sales?

c) Explain your findings?