Question
PROBLEM: Meryl's Apparel is an upscale chain of women's clothing stores. Due to recent success, Meryl's top management is planning to expand by locating new
PROBLEM: Meryl's Apparel is an upscale chain of women's clothing stores. Due to recent success, Meryl's top management is planning to expand by locating new stores in other regions of the country. The director of planning has been asked to study the relationship between yearly sales and the store size. As part of the study, the director selects a sample of 13 stores and determines the size of the store in square feet and the sales for last year.
You must complete the following for the described problem above: | |||||
01) Identify the independent and dependent variables. | |||||
02) Construct an X-Y scatterplot for the paired data. | |||||
03) Calculate and interpret the correlation coefficient r for the paired data. | |||||
04) Indicate whether the correlation is positive or negative and the strength (or weakness) of the correlation. | |||||
05) Determine the equation of the line of best fit and interpret the meaning of the slope. | |||||
06) Plot the line of best fit on the scatter plot of the data. |
Sales (millions $) | Square Feet (000) |
9.18 | 3.7 |
4.58 | 2.0 |
8.22 | 5.0 |
1.45 | 0.7 |
6.51 | 2.6 |
2.82 | 2.9 |
10.45 | 5.2 |
9.94 | 5.9 |
4.43 | 3.0 |
4.75 | 2.4 |
7.30 | 2.4 |
3.33 | 0.5 |
6.76 | 5.0 |
please include x and y axis tables and title for scatter plot
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