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What would you expect the profit to be

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Reference no: EM133041423

Question - Jorge would like to predict the profit for 2020 based on the 2019 profit of nine stores he manages. The data are provided below (in $10000)

2020

2019

43

41

51

49

37

44

24

32

47

46

44

42

50

47

55

51

46

49

If each additional dollar of profit earned in 2019, how much additional profit would one expect for 2020?

If a store had a profit of $500,000 (so profit value of 2019 is 50), what would you expect the profit to be for 2020?

Is the profit in 2019 a significant predictor of the profit in 2020?

What is the p-value for testing the significance of the 2019 as a predictor?

Approximately 85% of the 2020 is the profit for 2019?

Reference no: EM133041423

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