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Instructions: You must submit your own answers to the assignment. Submissions should be in the form of a word document (or pdf) AND an
Instructions: You must submit your own answers to the assignment. Submissions should be in the form of a word document (or pdf) AND an excel document showing your calculations. 1. The owner of a relatively successful independent bookstore has asked you to examine data related to the number of employees on hand during weekends and their overall sales. The owner has requested that you take a look at the data as the owner believes there is a clear relationship between the number of employees and the overall sales volume with the data provided in Excel (BookStoreData.xlsx). They have asked you to analyze that data and prepare a report. In particular, the store owner is hoping to predict sales based on the number of staff. (a) The first step for dealing with this type of data is to prepare a scatter plot of the data. Be careful about which data is listed as the x variable and which is listed as the y variable. Also make sure to label your graph. Are there any outliers/unusual observations? What is the direction, form, and strength of the relationship (hint: may want to also create a correlation). (b) Would you agree with the owner of the bookstore that there is a relationship here? Explain why or why not? Are there other possible explanations? (c) As you are being asked to create a model, what is the linear model here? Should all the data be included (hint: would an outlier effect the overall shape)? (d) Is there support to suggest that there may be a causal relationship between num- ber of employees and sales volume? (e) What is the predicted sale from 12 people working? What is the predicted sales from 3 people working? Which of these is more likely to provide an accurate prediction and why?
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