Better if you use excel in the computations. Thank you. FORECASTING - Linear RegressionGeneral instruction: Solve the following problem as directed. Show your solutions. All computedvalues should be rounded off to three decimal places. Show your answers clearly.Lizzie wants to open a fashion boutique business. Before selecting a location, shewould like to be able to predict the profit in pesos that the store maybe expected to earn perhundred square feet of selling space. She gathers the following data:Store SizeProfit1. Identify the independent anddependent variabler2. Compute for the correlationcoefficient (.3. Based on 2, explain therelationship between the twovariables. Discuss the implicationof this relationship ").4. Solve for the y-intercept and theslope i-5. Form the equation of theregression line that describes therelationship between the twovariables(100 sq. ft.) (R 10,000)35202215271716281612740226. Predict the profit of the fashionboutique business when the storemeasures 3800 square feet.Explain the result/3223"Er-(E*)

The excel output for the above mentioned problem is as follows,

FORECASTING - Linear Regression General instruction: Solve the following problem as directed. Show your solutions. All computed values should be rounded off to three decimal places. Show your answers clearly. Lizzie wants to open a fashion boutique business. Before selecting a location, she would like to be able to predict the profit in pesos that the store maybe expected to earn per hundred square feet of selling space. She gathers the following data: Profit (R 10,000) Store Size 1. Identify the independent and dependent variabler 2. Compute for the correlation coefficient (-. 3. Based on 2, explain the relationship between the two variables. Discuss the implication of this relationship " ). 4. Solve for the y-intercept and the slope i. 5. Form the equation of the regression line that describes the relationship between the two variables" (100 sq. ft.) 35 20 22 15 27 17 16 28 16 12 7 40 22 6. Predict the profit of the fashion boutique business when the store measures 3800 square feet. Explain the resuit/ 32 23

FORECASTING - Linear Regression General instruction: Solve the following problem as directed. Show your solutions. All computed values should be rounded off to three decimal places. Show your answers clearly. Lizzie wants to open a fashion boutique business. Before selecting a location, she would like to be able to predict the profit in pesos that the store maybe expected to earn per hundred square feet of selling space. She gathers the following data: Profit (R 10,000) Store Size 1. Identify the independent and dependent variabler 2. Compute for the correlation coefficient (-. 3. Based on 2, explain the relationship between the two variables. Discuss the implication of this relationship " ). 4. Solve for the y-intercept and the slope i. 5. Form the equation of the regression line that describes the relationship between the two variables" (100 sq. ft.) 35 20 22 15 27 17 16 28 16 12 7 40 22 6. Predict the profit of the fashion boutique business when the store measures 3800 square feet. Explain the resuit/ 32 23

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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