Calculating coefficient of determination

Assignment Help Basic Statistics

Reference no: EM1318531

Q1) Marketing manager of large supermarket chain would like to use shelf space to forecast sales of pet food. For random sample of 12 similar stores, she collected following information regarding the shelf space, in feet, devoted to pet food and weekly sales in hundreds of dollars.

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

a) What is the equation for least squares line?

i) = 2.63 + 0.724x

ii) = 1.45 + 0.724x

iii) = 1.45 + 0.074x

iv) = 2.63 - 0.174x

b) Calculate the coefficient of determination.

i) 0.8270

ii) 0.6839

iii) 0.3081

iv) 0.0009

c) Create a 95% prediction interval estimate for weekly sales, in hundreds of dollars, for a store with 8 feet of shelf space devoted to pet food.

i) 2.86 < y < 6.23

ii) 1.31 < y < 2.77

iii) -0.131 < y < 1.84

iv) 1.54 < y < 4.24

Reference no: EM1318531

Questions Cloud

Testing claim that opinion is independent of brand : Results of study are summarized below. Use a 5% level of significance and test claim that opinion is independent of brand.

Average or media tariff : A recent study of the Greater Los Angeles Taxi Driver Association demonstrated that the average or media tariff that they charge from Hermosa Beach to the International Airport of Los Angeles is $18.00

Conclude the total sum of square in single factor anova : An independent researcher has decided to study variations in TV viewing habits among three American cities. She has managed to randomly sample households in Chicago, Atlanta, and Minneapolis and gather data on the daily "on" times for households o..

Determine the solution to the system of equations : Determine the solution to the system of equations

Calculating coefficient of determination : What is the equation for least squares line? Calculate the coefficient of determination.

Explanation of advertising elasticity of demand : "Most of the firms spend considerable amounts of money on advertisement". Explain advertising elasticity of demand and its practical applications in this context.

Determining three quartiles and box-and-whisker plot : 4 7 7 5 2 9 7 6 8 5 8 4 1 5 2 8 7 6 6 9. (a) Determine three quartiles and (b) draw box-and-whisker plot of the data.

Describe law of conservation of charge : Describe how this observation is consistent with the law of conservation of charge.

Graph the equation : Graph the equation.

User Account

All Pages