Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i) An analyst used Excel to investigate the relationship between Weekly Sales (in $million) of a store and the Hours the store is open per

image text in transcribedimage text in transcribed
i) An analyst used Excel to investigate the relationship between "Weekly Sales" (in $million) of a store and the "Hours" the store is open per week. SUMMARY OUTPUT Regression Statistics Multiple R 0.962 R Square 0.926 Adjusted R Square 0.919 Standard Error 0.097 Observations 12 Standard Lower Upper Coefficients Error t Stat P-value 95% 95% Intercept 0.074 0.090 0.822 0.430 -0.126 0.273 Hours 0.015 0.001 11.20 0.000 0.012 0.018 Comment on the suggested relationship. What is the predicted effect on weekly sales of a store being open one extra hour? Hint: Refer to the direction of the relationship between the 2 variables & use an appropriate regression statistic to assess how well the regression equation fits the sample data.ii) Note: Unrelated to part i. At a company, employees receive $200 (GBP/pounds) commission even if they sell nothing, plus 1% for all sales made under $20,000 and 4% for all sales over E20,000. Which graph (A, B or C) best represents this scenario? Please explain your answer with reference to the vertical intercept and slope/gradients. A B C Commission Commission Commission 0 Sales 0 Sales 0 Sales

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

Pell And Pell–Lucas Numbers With Applications

Authors: Thomas Koshy

1st Edition

1461484898, 9781461484899

More Books

Students also viewed these Mathematics questions

Question

c. What are the job responsibilities?

Answered: 1 week ago

Question

How do you figure out the PV for year 7?

Answered: 1 week ago

Question

The quality of the proposed ideas

Answered: 1 week ago

Question

The number of new ideas that emerge

Answered: 1 week ago