Use the data in worksheet descriptive perform simple linear


Key Objective: Crusty Pizza executives are considering opening several new stores and they would like a forecast of monthly profit for each store.

a) Use the data in worksheet "Descriptive". Perform simple linear regression on the key variables to address the key objective for this case.

b) Comment on goodness of fit (R2) and statistical significance of the model (p-value of the F-test) to choose which variables would be good indicators of profit, and explain why.

c) Use the model that you selected in step "b" along with data in Worksheet "Regression". Predict monthly profit for each of the 20 stores in that worksheet (i.e., stores A through T).

d) Rank order stores A to T according to predicted profit (that you computed in step C, so you may identify the top 5 and bottom 5 locations to recommend to Crusty Pizza Company to open.

Solution Preview :

Prepared by a verified Expert
Basic Statistics: Use the data in worksheet descriptive perform simple linear
Reference No:- TGS02656147

Now Priced at $20 (50% Discount)

Recommended (95%)

Rated (4.7/5)