Question 10.88

10.88 Growth in grocery store size.

Here are data giving the median store size (in square feet) by year for grocery stores.23

grocery

Year Store size Year Store size Year Store size
1993 33.0 2000 44.6 2007 47.5
1994 35.1 2001 44.0 2008 46.8
1995 37.2 2002 44.0 2009 46.2
1996 38.6 2003 44.0 2010 46.0
1997 39.3 2004 45.6 2013 46.5
1998 40.5 2005 48.1
1999 44.8 2006 48.8
  1. Use a simple linear regression and a prediction interval to give an estimate, along with a measure of uncertainty, for the median grocery store size in 2011 and in 2012.
  2. Plot the data with the regression line. Based on what you see, do you think that the answer that you computed in part (a) is a good prediction? Explain why or why not.