Question
The marketing manager of a large supermarket chain has the business objective of using shelf space most efficiently. Toward that goal, she would like to
-
The marketing manager of a large supermarket chain has the business objective of using shelf space most efficiently. Toward that goal, she would like to use shelf space to predict the sales of pet food. Data are collected from a random sample of 12 equal-sized stores, with the following results:
Store
Shelf Space (X)(Feet)
Weekly Sales (Y)($)
1
5
160
2
5
220
3
5
140
4
10
190
5
10
240
6
10
260
7
15
230
8
15
270
9
15
280
10
20
260
11
20
290
12
20
310
At 5% level of significance, can we conclude that there is a linear relationship between shelf space and weekly sales.
Because the p-value <0.05, we cannot conclude that there is a linear relationship.
Because the p-value <0.05, we conclude that there is a linear relationship.
Because the p-value >0.05, we conclude that there is a linear relationship.
Because the p-value >0.05, we cannot conclude that there is a linear relationship.
The marketing manager of a large supermarket chain has the business objective of using shelf space most efficiently. Toward that goal, she would like to use shelf space to predict the sales of pet food. Data are collected from a random sample of 12 equal-sized stores, with the following results:
| Store | Shelf Space (X)(Feet) | Weekly Sales (Y)($) |
| 1 | 5 | 160 |
| 2 | 5 | 220 |
| 3 | 5 | 140 |
| 4 | 10 | 190 |
| 5 | 10 | 240 |
| 6 | 10 | 260 |
| 7 | 15 | 230 |
| 8 | 15 | 270 |
| 9 | 15 | 280 |
| 10 | 20 | 260 |
| 11 | 20 | 290 |
| 12 | 20 | 310 |
At 5% level of significance, can we conclude that there is a linear relationship between shelf space and weekly sales.
| Because the p-value <0.05, we cannot conclude that there is a linear relationship. | ||
| Because the p-value <0.05, we conclude that there is a linear relationship. | ||
| Because the p-value >0.05, we conclude that there is a linear relationship. | ||
| Because the p-value >0.05, we cannot conclude that there is a linear relationship. |
Predict with 95% confidence the weekly sales of pet food for stores with 8 feet of shelf space for pet food. What is the Margin of Error? Keep to 3 decimal places.?
Predict with 95% confidence the weekly sales of pet food for stores with 8 feet of shelf space for pet food. Determine the Lower confidence limit. Keep to 3 decimal places.?
Predict with 95% confidence the weekly sales of pet food for stores with 8 feet of shelf space for pet food. Determine the Upper confidence limit. Keep to 3 decimal places.?
Estimate with 95% confidence the mean weekly sales of pet food for stores with 8 feet of shelf space for pet food. What is the Margin of error? Keep to 3 decimal places.?
Estimate with 95% confidence the mean weekly sales of pet food for stores with 8 feet of shelf space for pet food. What is the upper confidence limit? Keep to 3 decimal places?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
