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Lovely Lawns, Inc., intends to use sales of lawn fertilizer to predict lawn mower sales. The store manager expects there to be a relationship between
Lovely Lawns, Inc., intends to use sales of lawn fertilizer to predict lawn mower sales. The store manager expects there to be a relationship between fertilizer sales and mower sales. Data collected from the past 14 weeks are: Enter the data into an Excel spreadsheet and create a scatterplot of the data. How would you interpret the scatterplot? Which variable is the independent (explanatory) variable? Which is the dependent (response) variable? Run a regression analysis using Excel's Data Analysis/Regression What is the value of the correlation coefficient? How would you interpret it? What is the value of the coefficient of determination? How would you interpret it? What are the hypotheses for the test of the slope? What is the p-value for the test of the slope? How would you interpret it? How would you interpret the residual plot? What is the regression formula that expresses the relationship between Fertilizer Sales and Mower Sales? Use your regression formula to forecast Mower Sales if Fertilizer Sales are 1.0 ton Use your regression formula to forecast Mower Sales if Fertilizer Sales are 2.5 tons
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