Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A couple are hoping to open a specialty sports store in the newMcArthur Glen Designer Outlet Mall.They want to predict the annual profit their store

A couple are hoping to open a specialty sports store in the newMcArthur Glen Designer Outlet Mall.They want to predict the annual profit their store can expect to earn based on the square feet of the store space they may choose.The data from a random sample of 9 stores is:

The last two numbers in the table are

42 50

178 and 165

In the second table it is

45.913157

5.003425

image text in transcribed
Store Size (100's ofsquare feet) 42 Annual Profit (in $10003) m 178 Below are the results of the linear regression to predict annual profit based on the store size: SUM MARY OUTPUT Regression Statistics Multiple R 0.91761 R Square 0.84201 Observations 9 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 5.575 17.058996 0.326809 0.753367 -34.763077 45.913157 store size 3.607 0.590547 6.107897 0.000487 2.210580 5.003425

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Concepts In Discrete Mathematics

Authors: Mofidul Islam

1st Edition

9353146372, 9789353146375

More Books

Students also viewed these Mathematics questions