The file P10_48.xlsx contains monthly sales and price of a popular candy bar.
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?