Final answer:
To assess the relationship between bagel purchases and cream cheese servings, management should perform both simple correlation and simple regression analyses, with simple regression providing a predictive equation. Therefore, the correct option is A & B.
Step-by-step explanation:
To determine whether the number of bagels bought is related to the number of servings of cream cheese, management should utilize simple correlation and simple regression analyses. A simple correlation will help in understanding the degree to which these two variables move together.
If a strong correlation is found, we may use simple regression to quantify the relationship between the variables, with the number of bagels as the independent variable and the servings of cream cheese as the dependent variable, resulting in an equation of the form ŷ = a + bx.
This would allow the prediction of cream cheese servings based on bagel sales. If the correlation coefficient is significant, it implies a strong relationship between the two variables. Multiple regression would only be necessary if we're considering more than two variables, which isn't the case here.