The file P10_48.xlsx contains monthly sales and price of a popular candy bar. a. Describe the type
Question:
a. Describe the type of relationship between price and sales (linear/nonlinear, strong/weak).
b. What percentage of variation in monthly sales is explained by variation in price? What percentage is unexplained?
c. If the price of the candy bar is $1.05, predict monthly candy bar sales.
d. Use the regression output to determine the correlation between price and candy bar sales.
e. Are there any outliers?
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Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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