Many regions in North and South Carolina and Georgia have experienced rapid population growth over the last 10 years. It is expected that the growth will continue over the next 10 years. This has motivated many of the large grocery store chains to build new stores in the region. The Kelley’s Super Grocery Stores Inc. chain is no exception. The director of planning for Kelley’s Super Grocery Stores wants to study adding more stores in this region. He believes there are two main factors that indicate the amount families spend on groceries. The first is their income and the other is the number of people in the family. The director gathered the following sample information.
Family Food Income Size1 $ 4.14 $ 73.98 42 4.08 54.90 23 5.76 138.86 44 3.48 52.02 15 4.20 65.70 26 4.80 53.64 4
7 4.32 79.74 38 5.04 68.58 49 6.12 165.60 510 3.24 64.80 111 4.80 138.42 312 3.24 125.82 113 7.17 77.58 714 5.94 146.51 615 6.60 162.69 816 5.40 141.30 317 6.00 36.90 518 5.40 56.88 419 3.36 71.82 120 4.68 69.48 321 4.32 54.36 222 5.52 87.66 523 4.56 38.16 324 5.40 43.74 725 6.71 59.83 51. Develop a correlation matrix. (Round your answers to 3 decimal places. Negative amounts should be indicated by a minus sign.)food incomeincome size 2. Determine the regression equation. (Round your answer to 3 decimal places.)The regression equation is: Food = + income + size3. How much does an additional family member add to the amount spent on food? (Round your answer to the nearest dollar amount.)Another member of the family adds to the food bill.