A lawn and garden centre intends to use sales of lawn fertilizer to predict lawn mower sales.

Question:

A lawn and garden centre intends to use sales of lawn fertilizer to predict lawn mower sales. The store manager wishes to determine tire relationship between fertilizer and mower sales. Tire pertinent data are:
A lawn and garden centre intends to use sales of

a. Determine the correlation between the two variables. Does it appear that a relationship between these variables will yield good predictions? Explain. (You may use Excel’s “=C0RREL (Range Y, Range X)” to determine r, where Range Y is the range of Excel cells containing the y values and Range X is the range of Excel ce11s containing the x values. You also need R2, RSQ (Range Y, Range X).

b. Obtain a1inear regression line for the data. (You may use Excel4s “=slope (Range Y, Range X)” and “=intercept Range Y, Range X)” to obtain the regression coefficients b and α, respectively. Alternatively, use Trendline in the Layout menu.)

c. Predict lawn mower sales, given fertilizer sales of 2 tonnes.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Operations Management

ISBN: 978-0071091428

4th Canadian edition

Authors: William J Stevenson, Mehran Hojati

Question Posted: