Kindly solve this problem. Thank you! FORECASTING - Linear RegressionGeneral instruction: Solve the following problem as directed. Show your solutions. All computedvalues should be rounded off to three decimal places. Show your answers clearly.Lizzie wants to open a fashion boutique business. Before selecting a location, shewould like to be able to predict the profit in pesos that the store maybe expected to earn perhundred square feet of selling space. She gathers the following data:Store SizeProfit1. Identify the independent anddependent variables (2 pts).2. Compute for the correlationcoefficient (5 pts).3. Based on 2, explain therelationship between the twovariables. Discuss the implicationof this relationship (5 pts).4. Solve for the y-intercept and theslope (5 pts).5. Form the equation of theregression line that describes therelationship between the twovariables (3pts).6. Predict the profit of the fashionboutique business when the storemeasures 3800 square feet.Explain the result (5 pts).(100 sq. ft.)(R 10,000)35202215271716281612740223223b=-a ="E-(E*

Name: Kindly solve this problem. Thank you! FORECASTING - Linear RegressionG
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Description: Kindly solve this problem. Thank you! FORECASTING - Linear RegressionGeneral instruction: Solve the following problem as directed. Show your solutions. All computedvalues should be rounded off to three decimal places. Show your answers clearly.Lizzie

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Statistics

General instruction: Solve the following problem as directed. Show your solutions. All computed values should be rounded off to three decimal places. Show your answers clearly. Lizzie wants to open a fashion boutique business. Before selecting a location, she would like to be able to predict the profit in pesos that the store maybe expected to earn per hundred square feet of selling space, She gathers the following data: Store Size Profit 1. Identify the indepondent and dependent variables (2 pts). 2. Compute for the correlation coefficient (5 pts). 3. Based on 2, explain the relationship between the two variables. Discuss the implication of this relationship (5 pts). 4. Solve for the y-intercept and the slope (5 pts). 5. Form the equation of the regression line that describes the relationship between the two variables (3pts). 6. Predict the profit of the fashion boutique business when the store measures 3800 square feet. Explain the result (5 pts). (100 sq. ft.) (R 10,000) 35 20 22 15 27 17 16 28 16 12 7 40 22 32 23 a = [»E*-(E»)][•E»* -(E»)]

General instruction: Solve the following problem as directed. Show your solutions. All computed values should be rounded off to three decimal places. Show your answers clearly. Lizzie wants to open a fashion boutique business. Before selecting a location, she would like to be able to predict the profit in pesos that the store maybe expected to earn per hundred square feet of selling space, She gathers the following data: Store Size Profit 1. Identify the indepondent and dependent variables (2 pts). 2. Compute for the correlation coefficient (5 pts). 3. Based on 2, explain the relationship between the two variables. Discuss the implication of this relationship (5 pts). 4. Solve for the y-intercept and the slope (5 pts). 5. Form the equation of the regression line that describes the relationship between the two variables (3pts). 6. Predict the profit of the fashion boutique business when the store measures 3800 square feet. Explain the result (5 pts). (100 sq. ft.) (R 10,000) 35 20 22 15 27 17 16 28 16 12 7 40 22 32 23 a = [»E-(E»)][•E» -(E»)]

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter2: Functions And Graphs

Section2.4: Writing And Graphing Equations Of Lines

Problem 108E

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