Question

In: Statistics and Probability

The owner of Gino’s Pizza restaurant chain believes that if a restaurant is located near a...

The owner of Gino’s Pizza restaurant chain believes that if a restaurant is located near a college campus, then there is a linear relationship between sales and the size of the student population. Suppose data are collected from a sample of n = 10 Gino’s Pizza restaurants located near college campuses with the following reported sample statistics:

X= Population (1000s)

Y = Sales ($1000s)

Sample Mean

14

130

Sample Standard Deviation

7.944

41.806

Sample Variance

63.111

1747.778

Sample Covariance

315.556

We want to find the equation of the least-squares regression line predicting quarterly pizza sales (y) from student population (x).

  1. Develop a 95% confidence interval estimate for β1.
  1. Test for the Significance of β1. Use α = 0.05
  1. Use an F-test to determine if the regression model is significant.
  1. Compute the R2 and interpret.

Solutions

Expert Solution

orchestra answered 3 years ago
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