The following data were collected during a study of consumer buying patterns. a. Plot the data as

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The following data were collected during a study of consumer buying patterns.

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a. Plot the data as a scatter plot.
b. Obtain a linear regression line for the data. (You may use Excel’s “=s lope(Range Y, RangeX)” and “ =intercept(RangeY, RangeX, where RangeY is the range of Excel cells containing they values and RangeX is the range of Excel cells containing the x values)” to obtain the regression coefficients b and G, respectively. Alternatively, use Trendline in the Layout menu.)
c. What percentage of the variation is explained by the regression line? (You may use Excel’s “=RSQ(RangeY, RangeX)” to obtain r2).
d. Use the equation determined in part b to predict the value of y for x = 41.
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Operations Management

ISBN: 978-0071091428

4th Canadian edition

Authors: William J Stevenson, Mehran Hojati

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