Data on sales have been collected from a chain of convenience stores. Some of the stores are considerably larger (more square feet of display space) than others. In a regression of sales on square feet, can you anticipate any problems?
Answer to relevant QuestionsAs part of locating a new factory, a company investigated the education and income of the local population. To keep costs low, the size of the survey of prospective employees was proportional to the size of the community. ...(a) If the observation marked with an “×” in the following plot is removed, how will the slope of the least squares line change? (b) What will happen to r2 and se? (c) Is this observation leveraged? These data describe the sales over time at a franchise outlet of a major U.S. oil company. This particular station sells gas, and it also has a convenience store and a car wash. Each row summarizes sales for one day at this ...A firm that operates a large, direct-to-consumer sales force would like to build a system to monitor the progress of new agents. The goal is to identify “superstar agents” as rapidly as possible, offer them incentives, ...The human resources department at a firm developed a multiple regression to predict the success of candidates for available positions. Drawing records of new hires from five years ago, analysts regressed current annual ...
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