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Regression for daily sales, income, floor and parking spaces

He studies a random sample of 15 stores and records the average daily sales (Y), the floor space (AREA)(X1), the number of parking spaces (X2), and the median income of the families around the stores(x3). The sample info is listed below.

Sales(Y) Area(X1) Spaces(X2) Income(X3)
1840 532 6 44
1746 478 4 51
1812 530 7 45
1806 508 7 46
1792 514 5 44
1825 556 6 46
1811 541 4 49
1803 513 6 52
1830 532 5 46
1827 537 5 46
1764 499 3 48
1825 510 8 47
1763 490 4 48
1846 516 8 45
1815 482 7 43

a) determine the regression equation
b) what is the value of r squared?
c) estimate Y if X1=559; X2=9; X3=52.

Solution Summary

Regression output from Excel, regression equation, and r squared value are included.
A prediction is also calculated using the regression equation and the given predictor values.

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