Create a Managerial Report summarizing and analyzing the data set.

Wenl
timer Asked: May 2nd, 2017

Question Description

Chapter 12 Case Problem Simple Linear Regression Modeling


Manufacturers are continually assessing how much shelf space to buy in retail stores to best maximize their sales. The manufactures believe that more shelf space equates to more sales. Data was collected over a several year period to test if there is in fact a relationship between shelf space (in feet) and sales (in millions). Below is a sample of the data from the data set. The variable ‘Display Feet’ represents the average number of feet of shelf space that the manufacturer bought in each retail store. The variable ‘Sales’ is the amount of sales in millions that were generated from all retail stores in which shelf space was bought.


Display Feet

Sales (in millions)

1

150.8

6

358.41

7

382.3

4

279.9

6

300.4

7

398.3

5

279.9

2

204.9

5

284.8

7

357.8

5

259.7


Download the complete data set from the course website.


Create a Managerial Report summarizing and analyzing the data set.


  1. Construct a descriptive summary for each variable in the data set.
  2. Is this data set a good data set for simple linear regression? Explain.
  3. Use regression analysis to develop an estimated regression equation that could be used to predict the amount of sales based on the amount of display feet bought.
  4. What conclusions and recommendations can you derive from your analysis using an alpha of 0.05?
  5. How much in sales can a manufacturer expect to earn if they buy 6.8 feet of shelf space?


Unformatted Attachment Preview

DisplayFeet Sales 1 150.8 6 259.9 7 282.3 4 279.9 6 200.4 7 205.7 5 279.9 2 204.9 5 284.8 7 257.8 5 256.7 1 163.2 2 210.4 1 160.9 7 299.6 5 261.9 5 258.6 4 201.5 3 237.5 2 194.7 5 205.8 5 206.5 6 315.9 6 321.3 2 214.2 1 143.6 4 233.8 7 338.3 3 234.1 3 277.9 6 316.4 7 300.1 1 188.2 2 188.8 2 177.8 6 288.4 5 332.1 6 258.8 5 262.5 6 188 3 199 7 389.5 4 247.3 7 343 2 163.2 6 310.5 5 259.7 1.) [CLICK HERE AS YOUR OUTPUT RANGE FOR YOUR SUMMARY STA ANALYSIS FOR PART 1] 2.) [PLACE YOUR DIAGRAM HERE FOR PART 2 AND WRITE YOUR ANS PART 2 BELOW] [PLACE YOUR ANSWER IN THE NARRATIVE FORM FOR PART 2 HER 3.) [CLICK HERE AS YOUR OUTPUT RANGE FOR YOUR REGRESSION A 4.) [WRITE OUT YOUR ANSWER TO PART 4 IN THE NARRATIVE FORMA 5.) [SHOW MODEL CALCUALTION HERE USING THE INDEPENDENT VA [WRITE OUT YOUR ANSWER TO PART 5 IN THE NARRATIVE FORMA R OUTPUT RANGE FOR YOUR SUMMARY STATISTICS 1] M HERE FOR PART 2 AND WRITE YOUR ANSWER IN THE NARRATIVE FORM FOR R IN THE NARRATIVE FORM FOR PART 2 HERE] R OUTPUT RANGE FOR YOUR REGRESSION ANALYSIS FOR PART 3] SWER TO PART 4 IN THE NARRATIVE FORMAT HERE] SWER TO PART 5 IN THE NARRATIVE FORMAT HERE]
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