BUQU 1230 Business Statistics

The Project Answer the questions, providing a short, written answer in complete sentences. Feel free to work in groups of up to four people. When you submit your assignment, please submit one assignment per group and write down the names of all people who have worked on the assignment. Each individual in the group will receive the same grade for the assignment. You can do this individually, if you prefer to. Collaboration is encouraged; copying answers is not. If the assignment of group/person A appears to be identical to that of group/person B, but A's name is not on B's assignment or viceversa, then both A and B will receive an automatic zero on the assignment.

(1) Give the sample mean, minimum, maximum, and standard deviation for the “Weekly Sales”.

(2) Which variable has the strongest sample correlation with “Weekly Sales”? Which variable has the weakest sample correlation with “Weekly Sales”? Interpret the value of these correlations.

(3) Estimate the regression of “Weekly Sales” (this is your dependent variable) on “Average Retail Price”, “Others”, and an intercept. Feel free to rename the variables, if you wish. Report the estimated regression coefficients and interpret the estimated coefficient on “Average Retail Price”.