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The owner of an antique shop believes that there is a relationship between number of people visiting the store and the daily sales in dollars.
The owner of an antique shop believes that there is a relationship between number of people visiting the store and the daily sales in dollars. She has collected the data for the past two weeks and they are as follows - Day Number of Sales Visitors (in thousand dollars) 1 12 2.4 2 12 1.4 3 20 2.8 4 16 3.0 5 26 4.0 6 23 3.0 7 14 4.5 8 16 2.2 9 14 1.2 10 18 2.8 11 14 1.6 12 22 2.9 13 18 2.1 14 10 3.3 a. Compute the correlation coefficient [4 Marks] b. Determine the regression equation [ 2 Marks] c. Determine the estimated sales if 20 customers visit the store. [1 Marks]
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