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Fran's Convenience Marts is located throughout the Erie, Pennsylvania metropolitan area. Fran, the owner, wants to expand her business to other communities in northwestern
Fran's Convenience Marts is located throughout the Erie, Pennsylvania metropolitan area. Fran, the owner, wants to expand her business to other communities in northwestern Pennsylvania and southeastern New York, such as Jamestown, Corry, Meadville and Warren. To prepare your presentation to the local bank, you would like to better understand the factors that make a particular discount store productive. Fran must do all the work on her own, so she won't be able to study all the discount stores. Therefore, he selects a random sample of 15 stores and records the average daily sales, floor space (area), number of parking spaces, and median household income in the region for each of the stores. The sample information is reported below. sampled daily store parking store sales area spaces Income (thousands of dollars) 1 $1840 532 44 2 1746 478 4 51 3 1812 530 7 45 4 1806 508 7 46 5 1792 514 5 44 6 1825 556 46 7 1811 541 4 49 8 1803 513 6 52 9 1830 532 5 46 10 1827 537 5 46 11 1764 499 3 48 12 1825 510 8 47 13 1763 490 4 48 14 1846 516 8 45 15 1815 482 7 43 Use all the tools learned in the course, perform the analysis required for the study that must be submitted to the bank regarding the best equation to estimate daily sales.
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