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HELP UNDERSTAND THIS W The management of a chain electronic store would like to develop a model for predicting the weekly sales (in thousands of

HELP UNDERSTAND THIS

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W The management of a chain electronic store would like to develop a model for predicting the weekly sales (in thousands of dollars) for individual stores based on the number of customers who made purchases. A random sample of l2 stores yields the following results: Customers Sales (Thousands of Dollars) 926 7 l 3 741 780 898 5 N *5 -11i- .E- \"a! b} 872 9.52 650 7.53 603 7.25 a) Fit a simple linear regression equation by Minitab. Copy your output. (5 pts) Use your Minitab output to answer the following questions: b) Do you think that the slope parameter is significant? State hypotheses, write test statistic and draw your conclusion. (5 pts) c) Is there enough evidence to conclude that regression model is significant? State hypotheses, write test statistic and draw your conclusion. (5 pts) d) What is the value of o2. (5pts) e) Use your fitted equation to predict the weekly sales when there are 650 customers. Find the residual. (5 pts) () What is the coefficient of determination? Interpret. (5 pts) g) Do you think that simple linear regression assumptions are met? Write the assumptions, graph the necessary plots by Minitab and discuss. (5 pts)

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