I need help with the following Forecasting problem. All of the parts (a-g) must be answered.
Andrew Vazsonyi is the manager of the Spendwise supermarkets chain. He would like to be able to forecast paperback book sales (books per week) based on the
amount of shelf display space (feet) provided. Andrew gathers data for a sample of 11 weeks as shown in Table -6.
Answer the following in detail:
a. Plot a scatter diagram
b. What kind of relationship exists between these two variables?
c. Compute the correlations coefficient.
d. Determine the least square line.
e. Test for the significance of the slope coefficient at the .10 significance level. Is the correlation significant? Explain.
f. Plot the residuals versus the fitted values. Based on this plot is the simple linear regression model appropriate for these data?
g. Forecast the paperback book sales for a week during which four feet of shelf space is provided.