Question

A national chain of women’s clothing stores with locations in the large shopping malls thinks that...

A national chain of women’s clothing stores with locations in the large shopping malls thinks that it can do a better job of planning more renovations and expansions if it understands what variables impact sales. It plans a small pilot study on stores in 25 different mall locations. The data it collects consist of monthly sales, store size (sq. ft), number of linear feet of window display, number of competitors located in mall, size of the mall (sq. ft),and distance to nearest competitor (ft).

1. Write a memo reporting your findings to your boss. Identify the strengths and weaknesses of the model you have chosen.

Sales Size Windows Competitors Mall Size Nearest Competitor
4453 3860 39 12 943700 227
4770 4150 41 15 532500 142
4821 3880 39 15 390500 263
4912 4000 39 13 545500 219
4774 4140 40 10 329600 232
4638 4370 48 14 802600 257
4076 3570 37 16 463300 241
3967 3870 39 16 855200 220
4000 4020 44 21 443000 188
4379 3990 38 16 613400 209
5761 4930 50 15 420300 220
3561 3540 34 15 626700 167
4145 3950 36 14 601500 187
4406 3770 36 12 593000 199
4972 3940 38 11 347100 204
4414 3590 35 10 355900 146
4363 4090 38 13 490100 206
4499 4580 45 16 649200 144
3573 3580 35 18 685900 178
5287 4380 42 15 106200 149
5339 4330 40 10 354900 231
4656 4060 37 11 598700 225
3943 3380 34 16 381800 163
5121 4760 44 17 597900 224
4557 3800 36 14 745300 195
Math   Statistics-And-Probability   
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Answer #1

The correlation matrix is:

Sales Size Windows Competitors Mall Size Nearest Competitor
Sales 1.000
Size .762 1.000
Windows .603 .877 1.000
Competitors -.377 .029 .234 1.000
Mall Size -.412 -.108 -.023 .151 1.000
Nearest Competitor .256 .164 .227 -.182 .208 1.000
25 sample size
± .396 critical value of r .05 (two-tail)
± .505 critical value of r .01 (two-tail)

There is a strong positive relationship between Size and Windows.

There is a strong positive relationship between Size and Sales.

There is a strong positive relationship between Sales and Windows.

There is a weak positive relationship between Size and Competitors.

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