Question

In: Statistics and Probability

A supermarket chain analyzed data on sales of a particular brand of snack cracker at 104...

A supermarket chain analyzed data on sales of a particular brand of snack cracker

at 104 stores for a certain one week period. The analyst decided to build a regresion model to predict the sales of the snack cracker based on the total sales of all brands in the snack cracker category.

a. Develop a linear regression model that helps predict the cracker sales. Show the
prediction equation.

b. Is there sufficient evidence at 2.5% significance level to claim that linear
relationship exists between category sales and cracker sales? Show the
test, and make the conclusion.

c. The difference in category sales between two stores is 150. What is the
predicted differnece of the cracker sales between these stores?

d. Make a prediction for sales in a week where sales in the entire snack
cracker category is 1005.

f. Produce a 90% confidence prediction interval for the sales of the cracker
in a store where the category sales is 1005. Also produce the90 %
confidence prediction interval in a store where category sales is 900.
Can you with 90% confidence claim which store has higher cracker sales?

CategorySales Sales
1348 394
1110 388
1096 357
1208 385
1063 346
1097 326
1277 358
1275 359
1328 360
1281 374
1127 362
1339 406
1055 354
1263 368
1158 391
1286 370
1401 372
1085 381
1178 371
1248 353
1241 372
1320 375
1353 369
1173 353
1208 364
1280 371
1214 391
1213 381
1291 371
1230 335
1095 338
1149 320
1305 370
1134 351
1127 328
1053 295
1107 318
1054 296
1141 327
1190 313
1071 346
1147 361
1127 350
1204 367
1301 411
1184 390
1214 367
1132 341
1213 380
1173 347
1226 365
1261 352
1118 341
1096 321
1211 329
1033 336
1228 361
1241 386
1381 408
1332 359
1253 375
1043 330
1456 341
1099 340
1044 336
1230 341
1143 371
1238 378
1357 371
1150 378
1218 386
1215 357
1238 376
1196 349
1193 364
1282 361
1317 365
1157 346
1294 356
1198 343
1436 358
1278 368
1124 312
1116 315
1109 338
1285 327
1189 309
1197 330
1091 345
1251 344
1124 355
1130 346
1067 328
1150 352
1238 375
1409 370
1264 377
1151 340
1206 350
1297 375
1164 364
1108 370
1187 365
1459 396

Solutions

Expert Solution

orchestra answered 1 year ago
Next > < Previous

Related Solutions

A supermarket chain analyzed data on sales of a particular brand of snack cracker at 104...
A supermarket chain analyzed data on sales of a particular brand of snack cracker at 104 stores for a certain one week period. The analyst decided to build a regresion model to predict the unit amount of sales of the snack cracker based on the total unit amount of sales of all brands in the snack cracker category (excluding the cracker itself). a. Develop a linear regression model that helps predict the cracker sales. Show the prediction equation. CategorySales Sales...
A supermarket chain analyzed data on sales of a particular brand of snack cracker at 104...
A supermarket chain analyzed data on sales of a particular brand of snack cracker at 104 stores for a certain one week period. The analyst decided to build a regresion model to predict the sales of the snack cracker based on the total sales of all brands in the snack cracker category. d. Make a prediction for sales in a week where sales in the entire snack     cracker category is 1005. CategorySales Sales 1348 394 1110 388 1096 357 1208...
A supermarket chain analyzed data on sales of a particular brand of snack cracker at 104...
A supermarket chain analyzed data on sales of a particular brand of snack cracker at 104 stores for a certain one week period. The analyst decided to build a regresion model to predict the sales of the snack cracker based on the total sales of all brands in the snack cracker category. b. Is there sufficient evidence at 2.5% significance level to claim that linear     relationship exists between category sales and cracker sales? Show the    test, and make the conclusion....
A supermarket chain analyzed data on sales of a particular brand of snack cracker at 104...
A supermarket chain analyzed data on sales of a particular brand of snack cracker at 104 stores for a certain one week period. The analyst decided to build a regresion model to predict the sales of the snack cracker based on the total sales of all brands in the snack cracker category. f. Produce a 90% confidence prediction interval for the sales of the cracker    in a store where the category sales is 1005. Also produce the90 %    confidence prediction...
P286 8-38 (Modified) (28pt) A particular brand of diet margarine was analyzed to determine the level...
P286 8-38 (Modified) (28pt) A particular brand of diet margarine was analyzed to determine the level of polyunsaturated fatty acid (in percentages). A sample of six packages resulted in the following data: 16.8, 17.2, 17.4, 16.9, 16.5, 17.1. g. Calculate a 95% two-sided confidence interval for the standard deviation of the level of polyunsaturated fatty acid for this particular brand of diet margarine. h.Is your method used in part (g) justified? Why or why not? i.Repeat part (g) using R....
Data for age (in years) and price (in hundreds of dollars) for a particular brand of...
Data for age (in years) and price (in hundreds of dollars) for a particular brand of car are provided in the accompanying data table. Presume that the assumptions for regression inferences have been met. Complete parts (a) through (d) below using the given data. X (age) 6, 6, 6, 2, 2, 5, 4, 5, 1, 4 Y (price) 289, 280, 293, 428, 382, 315, 355, 326, 423, 322 A) Obtain a point estimate for the mean price of all 3-year...
Exhibit 14 -3 A sample of data The marketing manager of a large supermarket chain believes...
Exhibit 14 -3 A sample of data The marketing manager of a large supermarket chain believes the sales volume, in dollars, of pet food depends on the amount of shelf space (measured in feet of shelf space) devoted to pet food. Shelf Space Sales 5 160 5 220 5 140 10 190 10 240 10 260 15 230 15 270 15 280 20 260 20 290 20 310 The proportion of the variation in sales that is explained by shelf...
The data below show the prices and ages in years of a particular brand of foreign...
The data below show the prices and ages in years of a particular brand of foreign car.  We want to see the relationship between age and price.   CAR 1 2 3 4 5 6 7 8 9 10 YI : PRICE 17 20.6 14 16.4 17.8 19.6 13.2 33.8 10 9.6 XI: AGE IN YEARS 5 4 6 5 5 5 6 2 7 7             We also have  ,  ,                   The computer printout for the regression line typically looks like the following...
A snack company’s data analysts have estimated the following elasticities for sales of the firm’s products....
A snack company’s data analysts have estimated the following elasticities for sales of the firm’s products. Price elasticity is –2.5. Income elasticity is –0.8. Cross-price elasticity with chocolate bars is +0.5. Advertising elasticity is +0.8. Marginal cost is $6. i) What is the optimal profit margin (P – MC)/P in percent? ii) What is the optimal price? iii) If the price of chocolate bars increases by 10%, by how much do the sales of the company change? (Pay attention to...
he average sales per store of ABC Inc.’s best-selling product in a supermarket chain last year...
he average sales per store of ABC Inc.’s best-selling product in a supermarket chain last year was $15,000. A random sample of 80 stores selected from the chain shows that this year the average sales per store is $14,300 with a sample standard deviation of $8,000. We wish to determine if the average sales per store this year is less than $15,000. 1.   State the null and alternative hypotheses to be tested. (2 Points) 2.   Compute the test statistic. (2...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT