This document is for Coventry University students for their own use in completing their assessed work for this module and should not be passed to third parties or posted on any website. Any infringements of this rule should be reported to acreg.fbl@coventry.ac.uk Task 2 [35 Marks] A company wishes to understand how sales are influenced by the price of its product. To do this, the company randomly chooses 12 UK cities and offers the product at different prices. The results are shown in the table below: City London Birmingham Manchester Derby Edinburgh Glasgow Cardiff Belfast Portsmouth Bristol Leicester Newcastle 1. 2. 3. 4. 5. 6. 7. 8. Price () 2.24 4.63 3.41 3.54 6.22 7.12 4.76 7.52 4.21 6.29 4.92 5.17 Sales 100 88 94 84 56 49 76 34 79 46 80 63 Conduct linear regression analysis. Perform, using Excel, Data Analysis Pack, Regression function, the regression analysis. [5 marks] Produce the scatterplot including a fitted regression line. [5 marks] Write the regression equation using the results of the excel table. [4 marks] Determine and interpret the slope [3 marks] Determine and interpret the intercept. [3 marks] Determine and interpret the R-squared value. [5 marks] Give predictions for volume of sales when the price of the product is set to: a. 3.50 [3 marks] b. 5.80 [3 marks] Explain why the predicted sales volume in question 7. above is just an estimate [4 marks] [Continued on next page] Assignment Brief Page 3 of 6