I need help with these questions regarding regression line.
Please see below
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Use the following information to answer the next four questions:
Junior’ s Clothing has collected sales and discount information from several “Big Saturday” sales events. This is shown in the table below:
Sales ($)
$3,250
$2,450
$2,850
$2,800
$2,500
$3,400
$3,250
$3,800
Discount
30%
15%
25%
20%
20%
30%
25%
35%
Plot the data. Does there seem to be a linear relationship between the discount offered and sales on “Big Saturday” events?
Yes or No
- Calculate a regression line for this data (use whole numbers for the percent discount, that is, use 15 for 15%). What is the value of the slope coefficient?
3. What is the value of the intercept coefficient for your regression line?
4. If Junior offers a 15% discount at the next “Big Saturday” event, what is your forecast of sales (based on your regression line)?
