The Marketing Manager of a Large Supermarket Chain Would Like

question 77

Essay

The marketing manager of a large supermarket chain would like to determine the effect of shelf space (in feet) on the weekly sales of international food (in hundreds of dollars). A random sample of 12 equal-sized stores is selected, with the following results:
-(A) Draw a scatterplot,of the data and comment on the relationship between shelf space and weekly sales.
(B) Run a regression on this data set and report the results.
(C) What are the least squares regression coefficients of the Y-intercept (a) and slope (b)?
(D) Interpret the meaning of the slope
b.
(E) Predict the average weekly sales (in hundreds of dollars) of international food for stores with 13 feet of shelf space for international food.
(F) Why would it not be appropriate to predict the average weekly sales (in hundreds of dollars) of international food for stores with 35 feet of shelf space for international food?
(G) Identify the coefficient of determination, , and interpret its meaning.
(H) Determine the standard error of the estimate. What does it represent?
(I) Draw a scatterplot of residuals versus fitted values. What does this graph indicate?

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Definitions:

Federal Government

The national government of a federated state, which holds authority over matters that transcend regional or state boundaries, often sharing power with state or provincial governments.

Red Scare

Periods of intense fear of communism and radical political agitation in the United States, particularly prevalent after both World Wars.

Antiradicalism

opposition to radical movements, ideologies or persons, often in the context of politics, where conservative segments of society reject progressive or revolutionary changes.

Immediate Aftermath

The period immediately following an event, characterized by reactions, consequences, and initial responses to what has occurred.