Can demographic information be helpful in predicting sales at sporting goods stores? The file Sporting contains the
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Sales-Latest one-month sales total (dollars) Age-Median age of customer base (years) HS-Percentage of customer base with a high school
Income-Median family income of customer base (dollars)
a. Construct a scatter plot, using sales as the dependent variable and median family income as the independent variable. Discuss the scatter plot.
b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients b0 and b1.
c. Interpret the meaning of the Y intercept, b0, and the slope, b1, in this problem.
d. Compute the coefficient of determination, r2, and interpret its meaning.
e. Perform a residual analysis on your results and determine the adequacy of the fit of the model.
f. At the 0.05 level of significance, is there evidence of a linear relationship between the independent variable and the dependent variable?
g. Construct a 95% confidence interval estimate of the population slope and interpret its meaning.
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Related Book For
Statistics For Managers Using Microsoft Excel
ISBN: 772
7th Edition
Authors: David M. Levine, David F. Stephan, Kathryn A. Szabat
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