Question: A manager wants to know about the relationship between SALES (measured in Millions of $) and SQFT (square footage of the store, measure per 1,000
A manager wants to know about the relationship between SALES (measured in Millions of $) and SQFT (square footage of the store, measure per 1,000 square footage).She also knows if the store is located in a metropolitan or nonmetropolitan county (METRO 1= metropolitan, 0 otherwise).Metropolitan stores are more densely populated.She looks at a random set of 14 stores and the Regression of SALES on SQFT and METRO is given below.
Summary of Fit RSquare 0.9733 RSquare Adj 0.9684 Root Mean Square Error 0.5329 Mean of Response 5.8429 Observations (or Sum Wgts) 14.0000 Analysis of Variance Sum of Source DF Squares Mean Square F Ratio Model 2.0000 113.8301 56.9151 200.3940 Error 11.0000 3.1242 0.2840 Prob Step by Step Solution
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