The Question.Fullparts PLC sells products across the UK which they divide up into 23 sales territories which are coded A-W. You have been asked to perform a regression analysis to predict the sales (£) of a particular product ineach territory from the market potential (estimated total industry sales (£) for the sales territory). The plotbelow displays the data which was collected from the previous financial year.Sales (Pounds)8000700000095000400030002000O20000OOoO30000OO0 0OOO40000O50000Market potential (Pounds)OOOwhich is a Soloot60000Data and transfer checkDownload the data and transfer it into SPSS.Check that your data transfer has been successful by obtaining the Std. Error of the means for the numericvariables in your data which should appear in SPSS output as:Sales 429.75670000Potential 3181.853If you do not have these exact values, then you may have not transferred your data from the Excel file toSPSS correctly. Do not continue with the test until your value agrees as otherwise you may not have correctanswers.Unless otherwise directed you should report all numeric values to the accuracy displayed in the SPSS outputthat is supplied when your data has been transferred correctly.1. Correlation analysisCalculate the Pearson's correlation coefficient between Sales and Potential.Complete the following using Evans (1996) to quantify the strength of correlation:correlationSaloot 15:24 Fri, 28 AprFile123Home Insert DrawAB4с5D6E7F8G9H10|11 J12K13 L14 M15 N16 O17 P18 Q19 R20 S21 T22 U2324 W25262728293031323334353637383940414243444546+ABTerritory Sales龈Read Only - To make changes, save a copy of this file into a Microsoft Office fileformat.fxinсPotential2625243007269584004517360004977359005168269002656213006675393003865235006299344005813577007416643003674204003378340001909253005353210001803370004627236007927589002901232008443 681006939520003426375008026 45900123|||Dcontents-1 - Read-onlyFormulas Data ReviewEΣ 48TIFViewGHI<0.5SensitivitySave a copyJK** || 91%DismissLFF

Given is the data on sales and potential of different territories.

Answered: 1. Correlation analysis Calculate the…

A First Course in Probability (10th Edition)

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Chapter1: Combinatorial Analysis

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Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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1. Correlation analysis Calculate the Pearson's correlation coefficient between Sales and Potential. Complete the following using Evans (1996) to quantify the strength of correlation: