Please see images for question part a. & b. and data table. Thanks! part b) is partially cut off and says:b. Based on the estimated regression model, what percentage of the total variation in average monthly sales can be explained by store size?______ % (Type an integer or decimal rounded to one decimal place as needed.) Store Size (Sq. Ft) Average Monthly Sales17,27016,04017,38017,40015,86020,34015,39016,89011,89012,37015,68012,56021,81014,09016,75014,88018.45018,37016,74019,89017,830S584,850.00$536,940.00S631.287.00S578,672.00S558,885.00S686,888.00S553,382.00$585,387.00S472,888.00-$519,131.00S618.203.00S466,361.00S732,820.00S504,285.00$629,320.00S600,831.00S609.228.00S616,824.00S686,118.00S721,823.00S539,087.00 A regional retailer would like to determine if the variation in average monthly store sales can, in part, be explained by the size of the store measured in square feet. Arandom sample of 21 stores was selected and the store size and average monthly sales were computed. Complete parts a. and b.Click the icon to view the data table between the store size and average monthly sales.a. Compute the simple linear regression model using the sample data. Let y be the average monthly store sales and x be the store size in square footage.(Type integers or decimals rounded to two decimal places as needed.)Interpret the slope coefficient. Select the correct choice below and fill in the answer box to complete your choice.(Type an integer or decimal rounded to two decimal places as needed.)O A. For each additional square foot of store size, the average increase in monthly sales is $O B. For each additional dollar of monthly sales, the average increase in stores size issquare feet.Interpret the intercept coefficient. Select the correct choice below and fill in the answer box to complete your choice.(Type an integer or decimal rounded to two decimal places as needed.)O A. The size of a store with average monthly sales of $0 issquare feet.O B. The average monthly sales of a store with 0 square feet is $.O C. Astore with no floor space cannot occur, therefore, the y intercept does not have a meaningful interpretation.b. Based on the estimated regression model, what percentage of the total variation in average monthly sales can be explained by store size?J Tunn nintennr ar Anrimnlmundedin nnn dnrimal nlnnn an nnndnd

a) The linear regression model be: Y = 175940.7325 + 25.1050 X1 where Y = average monthly sales X1 =…

b. Based on the estimated regression model, what percentage of the total variation in average monthly sales can be explained by store size? ______ % (Type an integer or decimal rounded to one decimal place as needed

b. Based on the estimated regression model, what percentage of the total variation in average monthly sales can be explained by store size? ______ % (Type an integer or decimal rounded to one decimal place as needed

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter1: Fundamental Concepts Of Algebra

Section1.4: Fractional Expressions

Problem 7E

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Concept explainers

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.

Question

Please see images for question part a. & b. and data table. Thanks!

part b) is partially cut off and says:

b. Based on the estimated regression model, what percentage of the total variation in average monthly sales can be explained by store size?

______ % (Type an integer or decimal rounded to one decimal place as needed.)

Store Size (Sq. Ft) Average Monthly Sales
17,270
16,040
17,380
17,400
15,860
20,340
15,390
16,890
11,890
12,370
15,680
12,560
21,810
14,090
16,750
14,880
18.450
18,370
16,740
19,890
17,830
S584,850.00
$536,940.00
S631.287.00
S578,672.00
S558,885.00
S686,888.00
S553,382.00
$585,387.00
S472,888.00
-$519,131.00
S618.203.00
S466,361.00
S732,820.00
S504,285.00
$629,320.00
S600,831.00
S609.228.00
S616,824.00
S686,118.00
S721,823.00
S539,087.00

A regional retailer would like to determine if the variation in average monthly store sales can, in part, be explained by the size of the store measured in square feet. A
random sample of 21 stores was selected and the store size and average monthly sales were computed. Complete parts a. and b.
Click the icon to view the data table between the store size and average monthly sales.
a. Compute the simple linear regression model using the sample data. Let y be the average monthly store sales and x be the store size in square footage.
(Type integers or decimals rounded to two decimal places as needed.)
Interpret the slope coefficient. Select the correct choice below and fill in the answer box to complete your choice.
(Type an integer or decimal rounded to two decimal places as needed.)
O A. For each additional square foot of store size, the average increase in monthly sales is $
O B. For each additional dollar of monthly sales, the average increase in stores size is
square feet.
Interpret the intercept coefficient. Select the correct choice below and fill in the answer box to complete your choice.
(Type an integer or decimal rounded to two decimal places as needed.)
O A. The size of a store with average monthly sales of $0 is
square feet.
O B. The average monthly sales of a store with 0 square feet is $.
O C. Astore with no floor space cannot occur, therefore, the y intercept does not have a meaningful interpretation.
b. Based on the estimated regression model, what percentage of the total variation in average monthly sales can be explained by store size?
J Tunn nintennr ar Anrimnlmundedin nnn dnrimal nlnnn an nnndnd

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