Question
Jorge would like to predict the profit for 2020 based on the 2019 profit of nine stores he manages.The data are provided below (in $10000)
Jorge would like to predict the profit for 2020 based on the 2019 profit of nine stores he manages.The data are provided below (in $10000)
20202019
4341
5149
3744
2432
4746
4442
5047
5551
4649
a: If each additional dollar of profit earned in 2019, how much additional profit would one expect for 2020? write answer to two decimal places
b: If a store had a profit of $500,000 (so profit value of 2019 is 50), what would you expect the profit to be for 2020?write answer to nearest dollar--do not include commas or dollar signs
c: Is the profit in 2019 a significant predictor of the profit in 2020?(yes or no)
d: What is the p-value for testing the significance of the 2019 as a predictor?
e: Approximately 85% of the 2020 is the profit for 2019?(true or false)
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