A regional retailer would like to determine if the variation in average monthly store sales can, in
Question:
Store Size (Sq. Ft) Average Monthly Sales
17400……………………………..$581,241.00
15920……………………………..$538,275.00
17440……………………………..$636,059.00
17320……………………………..$574,477.00
15760……………………………..$558,043.00
20200……………………………..$689,256.00
15280……………………………..$552,569.00
17000……………………………..$584,737.00
11920……………………………..$470,551.00
12400……………………………..$520,798.00
15640……………………………..$619,703.00
12560……………………………..$465,416.00
21680……………………………..$730,863.00
14120……………………………..$501,501.00
16680……………………………..$624,255.00
14920……………………………..$567,043.00
18360……………………………..$612,974.00
18440……………………………..$618,122.00
16720……………………………..$691,403.00
19880……………………………..$719,275.00
17880……………………………..$536,592.00
a. Construct a scatter plot using this data. What, if any relationship, appears to exist between the two variables?
b. Calculate the sample correlation coefficient between store size and average monthly sales.
c. Conduct a hypothesis test to determine if a positive correlation exists between store size and average monthly sales. Use a level of significance of 0.025.
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a Positive linear relationship is indicated betweenthe two va...View the full answer
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Related Book For 
Business Statistics A Decision Making Approach
ISBN: 9780133021844
9th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
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