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Homework Question #1: The Following Table shows total annual sales for 10 high-end supermarket stores and the...

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Basic Math

Homework Question #1:

The Following Table shows total annual sales for 10 high-endsupermarket stores and the median age of residents of each townwhere these stores are located. Supermarket executives believe thattheir store products appeal to a younger generation. (obtain allgraphs and calculations from minitab, but provide all manualcalculations)

Sales ($M)

5.540

10.700

10.532

5.995

5.090

Median Age

39.5

34.5

30.4

36.2

40.8

Sales ($M)

3.995

2.774

4.828

5.511

4.195

Median Age

41.5

34.7

41.4

38.0

40.0

  1. Obtain a scatterplot and examine/describe the generalrelationship between sales and median age of the townresidents
  2. Do you think the linear model is appropriate? Explain
  3. The marketing manager fit the regression line. What is theequation of that line? Is the regression significant? What is theR-Square value?
  4. From a “Regression Analysis” report obtained from minitab, doyou have any reservations about the prediction you found in (d)?Explain

Answer & Explanation Solved by verified expert
3.9 Ratings (428 Votes)
c From the given dataSNo Sales X Median Age YXiXbar2 YiYbar2xixbaryiybar1 554 395    See Answer
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