A group of Utech students set out to study the effects on sales of having many stores offering the same product in close

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A group of Utech students set out to study the effects on salesof having many stores offering the same product in close proximityto each other. They gathered data on stores selling fruit andvegetables. The data of daily revenue and the number of companiesin close proximity is listed in the table below
Daily Revenue
( $’1000)
85
80
70
55
90
90
95
Number of companies in close Proximity
1
0
2
6
4
3
3
a= y-bxn
b=nxy-xynx2-(x)2
r=nxy-xynx2-(x)2Xny2-(y)2
USE EQUATIONS above to answer the following question.
a) Develop the least square estimated regressionequation 15 marks
b) Describe the relationship between thevariables 7marks
c) Is this model a good predictor. Why ? 8 marks
d) Based on this model, what daily revenue can a fruit andvegetable store expect if there are 8 companies offering the sameproducts in closeproximity 5 marks