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Correlation/Regression Analysis

Sales Number of Units
Chain ($billions) (1,000)
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McD's 17.1 12.4
Burger King 7.9 7.5
Taco Bell 4.8 6.8
Pizza Hut 4.7 8.7
Wendy's 4.6 4.6
KFC 4.0 5.1
Subway 2.9 11.2
Dairy Queen 2.7 5.1
Hardee's 2.7 2.9
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For the above data, do a correlation and regression analysis to predict restaurant chain sales by its number of units. Also do a scatter diagram.

Explain the hypothesis testing procedure to test whether or not a relationship exists. Do all 5 topics in conjunction with the 5-step hypothesis testing procedure and use a .05 level of significance.

Solution Summary

Solution attaches an Excel and Word document to perform regression and correlation analyses on the given data and explain the steps to testing a hypothesis about restaurant chain units.

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