A researcher wants to know if there is a relationship between the number of shopping centers in a state and the retail sales (in billions $) of that state. A random sample of 8 states is listed below. After determining, via a scatter-plot, that the data followed a linear pattern, the regression line was found. Using the given data and the given regression output answer the following questions.
State Num Sales
1 630 15.5
2 370 7.5
3 616 13.9
4 700 18.7
5 430 8.2
6 558 13.2
7 1200 23.0
8 2976 87.3
1. What is the equation of the regression line?
2. Interpret the slope in the context of the problem.
3. Find the coefficient of determination.
4. Interpret the meaning of R2 in the context of the problem.
5. State the hypotheses to test for the significance of the regression equation.
6. Is there a significant relationship between dependent and independent variables at alpha=0.05? Why?
7. Use a 95% prediction interval to predict the sales for a state with 100 shopping centers
Paste the table with the results of regression analysis.