Simple Linear Regression I (Ch 13) Based on \"Using Statistics @Sunflower Appare

Question

Simple Linear Regression I (Ch 13) Based on "Using Statistics @Sunflower Apparel" Interpret the regression coefficients b_0 and b. P. 496 Predict the mean annual sales for a store with 4 million profiled customers. P. 497 State and interpret the coefficient of determination. P. 503 R^2 = 84.8% of variation in sales can be explained by the variation in store size. What is the standard error of the estimate? P. 505 S =.9993 million dollars; measures variation around the regression line. At the 0.05 level of significance, is there evidence of a linear relationship between the number of profiled customers and the mean annual sales? P. 516 Construct a 95% confidence interval estimate of the population slope Pi. P. 519 Construct a 95% confidence interval estimate of the mean annual sales for all stores with 4 million profiled customers. P. 523 Construct a 95% prediction interval of the annual sales for an individual store with 4 million profiled customers. P. 524 Regression Analysis: Annual Sales versus Profiled Customers

Explanation / Answer

1) The intercept, beta0=-1.2088 and slope, beta 1=2.0742, with increase in 1 profile customer, the annual sale is supposed to increase by an amount of 2.0742. With no profile customer, the annual sale is -1.2088.

2) Substitute, Profile customer with profile sustomers with 4.

Annual sales=-1.2088+2.0742*4000,000

=8287998.7912

3) a) Around 84.8% variation in annual sales is accounted for variation in profile customers.

4) Se=0.999298, measures of variation around regression line.

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