A package Delivery store Manager wants to be able to predict weekly Sales

Assignment Task

Question 

1. A package delivery store manager wants to be able to predict weekly sales. So she decided to develop a regression model. She collects the data for a period of 15 weeks and then organizes and stores the data in the following table. The table shows the number of cutomers and the sales in each week. numebr of Sales Week Customers ($thousands) 

a) Run a regression of "Sales" on "number of Customers" and write the estimated regression equation for determining "Sales" based on "number of Customers".

b) What is the dependant variable?

c) Estimate the amount of "Sales" over a week if there have been 892 customers for this packaging store? 

d) Create a graph to examine the relationship between the two variables. 

e) Find the coefficient of determination and correlation coefficient. 

f) What does the doefficient of determination say?

g) Test the hypothesis for significance at 0.01 to see whether there is any linear relation between "Sales" and number "Customers".

2. A growing number of younger employees have been participating in their company’s retirement plans in recent years. According to past research, 44% of employees under the age of 25 were making contributions to their pension plans in 2011. A random survey of 340 employees under the age of 25 was recently selected, and it was found that 167 of them made contributions to their plans this year. Perform a hypothesis test to determine if the percentage of employees under the age of 25 who have contributions to their pension plan is more than 44%.

a) State the null hypothesis and alternative hypothesis.

At the 0.01 level of significance, is there evidence that the percentage of employees under the age of 25 who have contributions to their pension plan is more than 44%.

b) What is the test statistic and the p-value?

c) What conclusion can we made based on p-value? What is your decision?

d) What is the confidence interval based on the sample of 340 employees under the age of 25.

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