Sample correlation coefficient-weekly sales and shelf space

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Reference no: EM1396263

The advertising manager of a chain of supermarkets would like to use shelf space to predict the sales of household cleaner. For a random sample of 12 similar stores,he gathered the following information regarding the shelf space, in feet, devoted to household cleaner and the 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

Compute the value of the sample correlation coefficient between weekly sales and shelf space.

Is the correlation between weekly sales and shelf space significant at the .01 level of significance?

What is the estimated regression equation?

Reference no: EM1396263

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