Use Minitab to solve this problem. To examine the relationship between the size (in square feet) of
Question: Use Minitab to solve this problem. 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 those 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 |
a. Fit the least squares line to the data to write the simple linear regression equation.
b. Plot the data and graph the least squares line as a check on your calculations.
c. Is the predictor “Size” significant at ?=0.05?
d. Interpret the meaning of the slope parameter ?1.
e. Evaluate the assumptions (check on ? is i.i.d. N(0,?2)).
f. What are the values of SSE and s2? What does “s” mean?
g. What is the 95% Confidence Interval for the slope?
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Solution: The solution consists of 7 pages
Deliverable: Word Document
Deliverable: Word Document
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Math Solutions
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Math Solutions
