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