Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

plz solve in A4 size and explain properly Question 2 (35 pts) The management of a chain electronic store would like to develop a model

plz solve in A4 size and explain properly

image text in transcribed
Question 2 (35 pts) The management of a chain electronic store would like to develop a model for predicting the weekly sales (in thousands of dollars) for individual stores based on the number of customers who made purchases. A random sample of 12 stores yields the following results: Customers Sales (Thousands of Dollars) (x) 907 B 926 11.05 713 3.21 741 9.21 780 9.42 868 10.08 510 6.73 529 7.02 460 6.12 IE330 Probability and Statistics in Engineering II Page | 2 872 9.52 650 7.53 503 7.25 a) Fit a simple linear regression equation by Minitab. Copy your output. (5 pts) Use your Minitab output to answer the following questions: b) Do you think that the slope parameter is significant? State hypotheses, write test statistic and draw your conclusion. (5 pts) c) Is there enough evidence to conclude that regression model is significant? State hypotheses, write test statistic and draw your conclusion. (5 pts) d) What is the value of 62. (5pts) e) Use your fitted equation to predict the weekly sales when there are 650 customers. Find the residual. (5 pts) f) What is the coefficient of determination? Interpret. (5 pts) g) Do you think that simple linear regression assumptions are met? Write the assumptions, graph the necessary plots by Minitab and discuss. (5 pts)

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

Discrete Mathematics Mathematical Reasoning And Proof With Puzzles, Patterns, And Games

Authors: Douglas E Ensley, J Winston Crawley

1st Edition

1118226534, 9781118226537

More Books

Students also viewed these Mathematics questions

Question

How does it differ from the emergent perspective?

Answered: 1 week ago

Question

Annoyance about a statement that has been made by somebody

Answered: 1 week ago

Question

Self-confidence

Answered: 1 week ago