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4. Here is the sales and profit data for a sporting goods company with 12 stores. Use the data to answer the regression problem #4.
4. Here is the sales and profit data for a sporting goods company with 12 stores. Use the data to answer the regression problem #4.
Sales in $ millions | Profits in $ millions | |||
7 | .15 | |||
2 | .10 | |||
6 | .13 | |||
4 | .15 | |||
14 | .25 | |||
15 | .27 | |||
16 | .24 | |||
12 | .20 | |||
14 | .27 | |||
20 | .44 | |||
15 | .34 | |||
7 | .17 |
- What is the r value?
- Do you consider the correlation strong?
- What is the expected profit when sales are $10 million?
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