LIST THE R CODES NEEDED TO ANSWER THE FOLLOWING QUESTIONS USING R SOFTWARE

Recent research efforts in your company have focused on the problem of predicting / explaining a manufacturer's market share (as a percentage) by using information on the quality of its product (on a scale of 0 to 100). Related data is given by the excel file titled "marketshare.csv"

11) Use the least squares method to find the regression equation. Report your regression equation. (MS: Market Share, PQ: Product Quality)

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12) Interpret the meanings of ?1 (the regression coefficient in front of the product quality variable) in the context of the problem.

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At a significance level of 0.01, do you think that there is a positive linear relationship between market share and product quality? (for Q13-Q17)

13) Please state your hypothesis.

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14) What is the value of the test statistic?

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15) What is the critical value?

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16) What is the p-value?

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17) What is your conclusion?

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18) What would be your best estimate of market share when the quality of your product is equal to 55?

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19) Obtain a 99% prediction interval for your answer in 18. What is the upper bound?

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20) What is the correlation between the market share of the company and the product quality?

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DATA

Marketshare Productquality

2 27

3 39

10 73

9 66

4 33

6 43

5 47

8 55

7 60

9 68

10 70

13 75

12 82