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    Regression and Correlation

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    A business owner considers the relationship between square footage and monthly sales.

    Square footage, Sales (1,000s)
    380 32
    400 37
    250 33
    320 31
    330 29
    360 37

    a. Determine the correlation coefficient.
    b. Is there a strong relationship? If so determine the line of best fit.
    c. Estimate what the sales should be for a 3000 square foot shop.

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    https://brainmass.com/statistics/regression-analysis/regression-correlation-business-relationships-249103

    Solution Preview

    A business owner considers the relationship between square footage and monthly sales.
    Square footage, Sales ...

    Solution Summary

    A step by step solution to the problem is provided. The regression and correlation business relationships is examined.

    $2.19

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