Question: The marketing manager of a large supermarket chain would like to use shelf space to predict the sales of pet food. For a random sample of 12 similar stores, she gathered the following information regarding the shelf space, in feet, devoted to pet food & the weekly sales in hundreds of dollars. Use these data to answer questions 1 through 3.
|
Store
|
1
|
2
|
3
|
4
|
5
|
6
|
|
Shelf Space
|
5
|
5
|
5
|
10
|
10
|
10
|
|
Weekly Sales
|
1.6
|
2.2
|
1.4
|
1.9
|
2.4
|
2.6
|
|
Store
|
7
|
8
|
9
|
10
|
11
|
12
|
|
Shelf Space
|
15
|
15
|
15
|
20
|
20
|
20
|
|
Weekly Sales
|
2.3
|
2.7
|
2.8
|
2.6
|
2.9
|
3.1
|
[1.] Is the correlation between weekly sales & shelf space significant at the .01 level of significance?
[A] No, the sample correlation coefficient does not exceed the critical value.
[B] Yes, the p-value of the test for significance is less than .01.
[C] Yes, the value of the test statistic does not exceed the critical value.
[D] Yes, the computed t-test statistic is less than the critical value.
[2.] Find the estimated regression equation?
[A] ? = 2.63 + 0.724x
[B] ? = 1.45 + 0.724x
[C] ? = 1.45 + 0.074x
[D] ? = 2.63 - 0.174x
[3.] Calculate the value of the sample correlation coefficient between weekly sales & shelf space.
[A] 0.684
[B] 0.827
[C] 0.652
[D] 0.308