1. What does February 2020's actual warehouse club sales value tell us about the strength of this model to extend past the ten years covered in the scatterplot?

2. Consider the following 2020 warehouse store sales data. For each, find the residual(Error). February 2020:$41,996 mil March 2020: $48,246 mil.

3. What warehouse club sales does your model predict for 2020?

4. What would we call March 2020's data point? What happened at that point in time to cause this?

5. What does February 2020's actual grocery store sales value tells us about the strength of this model to extend past the ten years covered in the scatterplot?

6. Consider the following 2020 grocery store sales data. For each, find the residual (Error). February 2020: $57,337 mil. March 2020: $73,714 mil.

7. What grocery store sales does your model predict for 2020?

8. Use the two regression lines to estimate when sales in grocery stores are likely to equal sales in warehouse clubs. What type of prediction did you just make? Explain?

9. If this growth pattern continues, what is likely to happen?

10. What do the slope of the regression equations predict about the sales growth for grocery stores? For warehouse clubs?

Transcribed Image Text:

Over the past several decades, warehouse club stores such as Sam's Club and Costco have been gaining ground on their grocery store counterparts. The scatterplot and regression equations are shown below. Grocery Stores vs. Warehouse Clubs Sales Mean seasonal sales (in millions of $1 L y=1,170r30,630 - 209016740 cc - 0.99 Warehouse Club B Source http://www.economagic.com/cenret htm Over the past several decades, warehouse club stores such as Sam's Club and Costco have been gaining ground on their grocery store counterparts. The scatterplot and regression equations are shown below. Grocery Stores vs. Warehouse Clubs Sales Mean seasonal sales (in millions of $1 L y=1,170r30,630 - 209016740 cc - 0.99 Warehouse Club B Source http://www.economagic.com/cenret htm

Answer rating: 100% (QA)

y 2090 x Years Residual March R since 1998 20201998 February 20... View the full answer