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Directions: Consider the following scenario: You have been awarded a contract to analyze sales data for a snack food company. They have introduced a new
Directions: Consider the following scenario: You have been awarded a contract to analyze sales data for a snack food company. They have introduced a new flavor of potato chips (crisps). As part of your analysis, you will need to conduct a hypothesis test on the results of a simple linear regression to determine if there is a relationship between price and amount of product sold. Here is the data you need to analyze:
Price per Bag of Crisps | Number of Truck Loads Sold |
$2.00 | 14 |
$1.90 | 18 |
$1.75 | 24 |
$1.50 | 30 |
$1.25 | 35 |
$1.00 | 41 |
$0.90 | 46 |
$0.75 | 52 |
$0.60 | 57 |
$0.50 | 64 |
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