Regression Analysis and Super Grocery Stores - 1112 Words

Chap 13 44 1.4 100 1.3 110 1.3 110 0.8 85 1.2 105 1.2 105 1.1 120 0.9 75 1.4 80 1.1 70 1.0 105 1.1 95 A sample of 12 homes sold last week in St. Paul, Minnesota, is selected. Can we conclude that, as the size of the home (reported below in thousands of square feet) increases, the selling price (reported in $ thousands) also increases? * Compute the coefficient of correlation. * = [12(1344) – (13.8)(1160)]/12(16.26) – (13.8)2][12(114850) – (1160)2]=0.30722 * Determine the coefficient of determination * r2 = 256.4103/2716.667=0.09438 * df = 12 -2 = 10 * table b2 t = 1.812; Reject the H0 if t gt; 1.812 * t = r ((n – 2)1/2) / (1 – r2)1/2 =†¦show more content†¦The Kelley’s Super Grocery Stores, Inc., chain is no exception. The director of planning for Kelley’s Super Grocery Stores wants to study adding more stores in this region. He believes there are two main factors that indicate the amount families spend on groceries. The first is their income and the other is the number of people in the family. The director gathered the following sample information. 1 $5.04 $ 73.98 4 2 4.08 54.90 2 3 5.76 94.14 4 4 3.48 52.02 1 5 4.20 65.70 2 6 4.80 53.64 4 7 4.32 79.74 3 8 5.04 68.58 4 9 6.12 165.60 5 10 3.24 64.80 1 11 4.80 138.42 3 12 3.24 125.82 1 13 6.60 77.58 7 14 4.92 171.36 2 15 6.60 82.08 9 16 5.40 141.30 3 17 6.00 36.90 5 18 5.40 56.88 4 19 3.36 71.82 1 20 4.68 69.48 3 21 4.32 54.36 2 22 5.52 87.66 5 23 4.56 38.16 3 24 5.40 43.74 7 25 4.80 48.42 5 Food and income are reported in thousands of dollars per year, and the variable size refers to the number of people in the household. a. Develop a correlation matrix. Do you see any problems with multicollinearity? * high degree of correlation between family food and size of the family b. What is the value of R2? Can we conclude that this value is greater than 0? * R2=0.82577, yes the value is greater than 0 c. 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