Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 408 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 18 Jan 2018 My Price 8.00

data SYX

In Problem 10.4 on page 380, the marketing manager used shelf space for pet food to predict weekly sales. The data are stored in the file petfood.xls. For these data SYX = 30.81 and hi = 0.1373 when X = 8. a. Construct a 95% confidence interval estimate of the mean weekly sales for all stores that have 8 feet of shelf space for pet food.

b. Construct a 95% prediction interval of the weekly sales of an individual store that has 8 feet of shelf space for pet food.

c. Explain the difference in the results in (a) and (b).

Problem 10.4:

The marketing manager of a large supermarket chain would like to use shelf space to predict the sales of pet food. A random sample of 12 equal-sized stores is selected, with the following results (stored in the file petfood.xls):

a. Construct a scatter plot. For these data, b0 = 145 and b1 = 7.4.

b. Interpret the meaning of the slope, b1, in this problem.

c. Predict the mean weekly sales (in hundreds of dollars) of pet food for stores with 8 feet of shelf space for pet food.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Jan 2018 12:01 AM My Price 8.00

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