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