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Correlation/Regression Analysis

Sales Number of Units
Chain ($billions) (1,000)
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

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.